Morrisons acquires HMV stores for convenience business

Morrisons has purchased six HMV stores from the music company’s administrators Deloitte in an attempt to further expand its convenience arm.
The supermarket chain is hoping to open more M Local outlets around the country and take on rivals like Tesco and Sainsburys with the new round of shops, which are in Chesterfield, Enfield, Lancaster, Scarborough, Wood Green and Newbury.
Following its latest acquisitions, the firm looks on track to soar beyond its target of having 70 convenience stores in place by the end of year.
Indeed, Gordon Mowat, managing director of Morrisons Convenience, said the business has either opened or purchased 70 stores just one month into the financial year. “This is a big expansion year for us and we have got off to a great start,” he added.
The food and drink giant is also offering any employees who find convenience properties for Morrisons that are later opened a finder’s fee of £500.
It seems the company could be set to go from strength to strength, after it came fourth in a recent customer survey conducted by Which?, ahead of competitors Sainsbury’s and Asda.