×
480
Fashion Jobs
MOLEDRO
Operation Manager
Permanent · NEW DELHI
MOLEDRO
HR &Admin
Permanent · NEW DELHI
MOLEDRO
Brand Manager
Permanent · NEW DELHI
MOLEDRO
sr Fashion Designer / Production Manager
Permanent · NEW DELHI
ADIDAS
Manager Information Security
Permanent · GURUGRAM
ADIDAS
sr. Manager Sales Excellence
Permanent · GURUGRAM
CL GUPTA RETAIL PRIVATE LIMITED
Production Manager Cum Quality Control Manager
Permanent · Noida
UGRAYA FOODS
Production Manager || Agartala (Tripura) || Poultry Feed Industry
Permanent · Agartala
GOVIND KRIPA INFRATECH PVT. LTD.
HR/Telecalling/Sales Manager/Sales Executives/Asst. Sales Manager
Permanent · Jaipur
JUMBO BAGS
Manager- Production (Fibc / Woven Polypropylene Industry)
Permanent · Chennai
ADIDAS
Manager, Masterdata And Product Launch (.Com & Digital Partners), Apac
Permanent · GURUGRAM
ADIDAS
Manager, Digital Backend Operations, Apac
Permanent · GURUGRAM
THE HOUSE OF DEEPTHI LIMITED
Production Manager
Permanent · MUMBAI
MANPOWERGROUP SERVICES INDIA PRIVATE LIMITED
Hiring-Field Sales Manager
Permanent · Chennai
YUTIKA NATURAL
Area Sales Manager (Guwahati)
Permanent · Katihar
LENSKART
Area Operations Manager
Permanent · Chennai
ELECTRONICA FINANCE
Area Sales Manager - Mumbai- Vasai
Permanent · Mumbai
ADIDAS
Manager Learning & Development & Knowledge Management (M/F/D)
Permanent · CHENNAI
D.LIGHT
Hiring For Area Sales Manager | Bihar | d.Light Energy
Permanent · Patna
CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED
Loan Against Securities - Area Sales Manager
Permanent · Chennai
ANAND RATHI GLOBAL FINANCE
Hiring For Area Sales Manager Sme- Lap
Permanent · Mumbai
CURLYFE BIOSCIENCES
Senior Area Sales Manager
Permanent · Ghaziabad
By
Reuters
Published
Aug 17, 2015
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Morrisons in talks to sell convenience stores

By
Reuters
Published
Aug 17, 2015

Britain's fourth-largest grocer, is in advanced talks to sell its convenience stores to investment firm Greybull Capital as new chief executive David Potts seeks to focus the business on its traditional supermarket estate.

A source familiar with the matter told Reuters Greybull was working with a team of industry executives to take over about 150 stores that trade as M local and generate annual sales of about 300 million pounds ($470 million).



The possible deal was first reported in the Sunday Telegraph newspaper.

Both Greybull and Morrison declined to comment.

Morrisons was a late entrant into Britain's fast-growing convenience sector, opening its first stores in 2011. Though it has since grown at pace, its convenience presence is tiny compared with bigger rivals Tesco and Sainsbury and has little bearing on its profit performance.

A ramp-up under former CEO Dalton Philips failed to deliver the level of trading it had anticipated.

Morrisons said in March it would close 23 M local stores during its 2015-16 financial year and would significantly slow new openings. It would also review the M local project and approach to site selection.

Potts, who joined as CEO in March, has said he did not think M local was working in its current form and believed many stores were not in the right location.

He has said his priority is improving the performance of Morrisons' more than 500 core supermarkets and making the group simpler, leaner and more cost conscious.

Potts is due to give update on his plans on Sept. 10, when the company is also due to publish first-half results.

Morrisons shares were down 1.3 percent at 176 pence by 1020 GMT, valuing the business at 4.1 billion pounds.

 

© Thomson Reuters 2022 All rights reserved.