Morrisons announces closure of 11 supermarkets

NEWS: News.
NEWS: News.

Supermarket giant Morrisons has announced the closure of 11 supermarkets - putting 900 jobs at risk.

The firm revealed its plans as it reported its latest slump in profits.

Pre-tax profits for the half-year to August 2 fell 47 per cent to £126 million while like-for-like sales for the period dropped 2.7 per cent compared with the same period last year.

New chief executive David Potts said the group faced a ‘long journey’ to turn around its fortunes.

The supermarkets set to close have not yet been revealed.

The announcement came a day after Morrisons said it was selling 140 M local convenience stores for around £25 million to concentrate on its larger supermarkets.

Mr Potts said: “With great regret we are proposing to close 11 supermarkets. This is a difficult decision but one which we cannot see any way through to make those stores viable.”

The closures are in addition to 10 supermarkets shut earlier this year.

Morrisons also announced earlier this year that it was closing 23 M local stores.

Mr Potts said the 11 stores earmarked for closure in the latest cull were mainly smaller-sized supermarkets.