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Morrisons acquires six HMV stores

Morrisons has purchased six HMV stores from the entertainment retailerÂ’s administrators. The supermarket will convert the outlets into Morrisons M local stores as it accelerates the expansion of its convenience chain.

GENERAL MERCHANDISE

Morrisons acquires six HMV stores

Morrisons has purchased six HMV stores from the entertainment retailerÂ’s administrators. The supermarket will convert the outlets into Morrisons M local stores as it accelerates the expansion of its convenience chain.

Earlier this month, Morrisons acquired 49 Blockbuster stores and seven former Jessops to convert into M Local stores. The new stores, which are mainly in London and the South East, are expected to open in the summer.

Morrisons said the acquisitions mean that it looks set to exceed its target of operating 70 convenience stores by the end of 2013. The supermarket currently operates 13 convenience stores across the UK.

Gordon Mowat, managing director of Morrisons Convenience said: "We have either opened or acquired 70 stores just one month into our financial year so we are pleased that we will exceed our 2013 target. Our focus is now on opening these stores as soon as we can as well as pushing on to secure even more sites." 

Morrisons is also offering its staff a £500 finder’s fee if they find convenience properties for Morrisons that are subsequently opened.


 

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