Morrisons buys Jessops shops with sights set on Blockbuster and hmv next
Morrisons, the UK’s fourth largest supermarket group, has bought seven Jessops shops from administrators following the camera retailer's collapse last month.
Morrisons is looking to expand its convenience store business, and is reportedly in additional talks to buy sites from hmv and Blockbuster, which both went into administration last month.
The supermarket chain was the worst performer of Britain’s top supermarkets during the Christmas period, with like-for-like sales dropping by 2.5 per cent in the six weeks leading to December 30. As such the expansion of its M-Local service has been deemed vital to the company’s future strategy.