Dudley Ramsden, joint founder and executive chairman of Nisa-Today's, is to retire at the end of the month.

Ramsden said that he would retire at the company's annual general meeting on 28 November. His retirement follows last month's news that Nisa-Today's proposed merger with Costcutter had been abandoned and reports that he was under pressure to step down.

Ramsden added that it was always his intention to retire on completion of the proposed merger with Costcutter and that, although the merger would not be taking place, he wanted to spend more time with his young family and to help his two elder sons in the family businesses, Dee Bee Cash & Carry and Ramsden's Superstore.