900 jobs may be at risk as Morrisons profits slump.
Due to a slump in profits 900 jobs could be at risk for Morisons. Yesterday it was announced that 11 supermarkets may be shut in the chain.
The locations of the supermarkets that are closing were not disclosed, chief executive David 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. This will be a long and challenging journey but an important one for one of Britain's great retailers.”
The closure of the stores comes at a time where budget stores such as Aldi and Lidl are on the rise and challenging the big four supermarkets.
The chain also announced it would be closing 140 of its convenience stores called M Local. The buyer of these stores Mr Greene has said they will be rebranded and all current staff will keep their jobs.