Morrisons acquires 49 Blockbuster stores
Morrisons has bought 49 of the failed Blockbuster DVD rental stores from the administrators for an undisclosed sum.
The supermarket will convert the stores into small M-Local convenience shops which it hopes will be open by the end of the summer. Morrisons said that the move will create around 1,000 jobs.
Earlier this month, Morrisons acquired seven stores from the collapsed camera chain Jessops which will also be converted into M-Local shops.
The supermarket plans to open 70 convenience stores by the end of the year as it looks to catch up with its rivals in the convenience sector. Many of the Blockbuster stores that it has bought are situated in the South East, an area where Morrisons is keen to expand.
Gordon Mowat, managing director of Morrisons Convenience, said: "We are rolling out the Morrisons M local estate at pace this year and these acquisitions give us a kickstart in securing a solid foothold in this key sector.
"The convenience market is growing as more people shop locally and we want to be in a position to take advantage of this."
Blockbuster, which operated 600 stores in the UK, collapsed into administration last month after struggling against competition from online retailers.
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