British supermarket chain Morrisons has announced the closure of 132 McColl’s convenience stores so that the retailer can make a profit in the medium term.
According to an article in European Supermarket Magazine, the retailer plans to close most stores this year, leaving 55 stores with a post office to close in 2023.
The McColl’s chain was acquired out of administration last May, but the deal was only cleared last month by the competition regulator.
Morrisons plans to invest in McColl’s stores in 2023 by improving the banner’s product range and pricing.
The announcement means that 1300 jobs are at risk, but the company has said that each employee will be offered alternative jobs in other stores, logistics operations or food making centre.
Source: European Supermarket Magazine