Morrisons to close down more stores as profits tumble 35%

Up to 900 jobs at risk

Morrisons lady

Happier days at Morrisons

Supermarket chain Wm Morrison is to close 11 of its 500 UK stores after reporting crumbling underlying profits, which fell by 35% over the first half of the year.

The move follows an announcement yesterday that the company would also sell off 150 of its loss-making convenience stores, which trade under the M Local brand.

Morrisons also closed 23 of its supermarket stores back in March, with the loss of 300 jobs.

The chain has been hit hard by the growth of discount stores Aldi and Lidl.

Morrisons chief executive David Potts said the latest round of closures would help strengthen the supermarket’s core business.

He said: “Improving the shopping trip for customers, and making the core supermarkets strong again will be the cornerstone of the renewal of Morrison.”

But he added: “This will be a long and challenging journey… We are approaching the future one day at a time.”

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