Sign with the Morrisons supermarket logo. Credit: Shutterstock, P.Cartwright. In 2021, the Morrisons were snapped in a £7 billion deal by US private equity giants Clayton, Dubilier and Rice. However, the price of the transaction is still felt. Since then, supermarkets have faced an increase in interest payments and have narrowed down profit margins, making it difficult to keep up with their cut-off rivals like Aldi and Lidl. Retail analysts said the acquisition, which supported the debt, allowed Morrisons to invest in loyalty schemes and compete for price. Hundreds of jobs are at risk now as supermarket giants continue to live with their fats in place.
Hundreds of jobs are at risk as supermarket giants trim fat to stay in the game.
Morrisons is swinging x with a sweeping view of 52 in-store cafes and 17 convenience stores closing. Morrisons started in 1899 at Bradford as an egg and butter merchant at Lawson Market. The closure announced this week, which supermarkets claim, would put about 365 jobs at risk Most of the The affected staff are expected to be relocated elsewhere in the business.
In this latest round cutback you will see the end of all 18 “market kitchens”, 13 florists, 35 meat counters, 35 fish counters and four pharmacies. Really Value, according to CEO Rami Baitier.
Speaking of the cut, Baitiéh said: Really Value and it can play a perfect role in our growth. ”
This move is expected to unfold over the next few months And it’s coming The Morrisons will fight to remain relevant amid the rapid rise of Discal Counter rivals. In 2022, Aldi overtook the Morrisons as the UK’s fourth largest supermarket – batting nevertheless A stab wound from a Bradford-based brand.
Employing around 95,000 people in 500 supermarkets and 1,600 Morrisons daily stores, Morrisons is under pressure to provide better value in an increasingly price-sensitive market.
Faced with closures, Morrisons’ daily stores are usually a smaller, convenient format than extending their opening hours. meanwhile, Cafe closure It will affect stores in major cities such as London, Leeds, Portsmouth and Glasgow.
Bid on To ease the blow, supermarkets say they are exploring partnerships with third-party providers to take over certain services within the store and “provide related professional offers.”
This is not the first major player to call time at the cafe. In January, rival Sainsbury also scrapped the remaining café business, and most shoppers candidly admitted that they “don’t use the cafe regularly.”
It’s a bitter medicine swallow Brewing with budget-friendly bacon bop after shopping for loyal customers who saw the in-store cafe as part of Morrison’s charm. But in today’s climate, supermarkets are forced Cut All non-essential.
It remains to be seen whether this basic approach will be sufficient to revive the Morrisons’ fortunes, but sadly, café culture in British supermarkets is getting colder.
Get more news from around Europe.
Get more UK News In English.
