Jobs at risk as Morrisons announces store closures

Morrisons

Morrisons

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National supermarket chain Morrisons has announced today (September 10) it will be closing 11 stores across the country.

The retailer, which has supermarkets in Crawley, Worthing, Bognor Regis and Littlehampton, has made the decision as part of a £1bn cost saving programme.

It is reported 900 jobs could be at risk.

A spokesperson for company said they could not confirm which stores would be closing at this moment in time.

Morrisons reported its half yearly profits before tax had dropped from £239m in 2014/15 to £126m.

It also stated its annual turnover for the same period fell to £8.1bn, down 5.1 per cent on last year.

On Wednesday (September 9) the retailer announced it had sold 140 M Local stores for £25m, including the store in Littlehampton.

David Potts, Morrisons chief executive, said:Since joining Morrisons, I have been struck by the passion and commitment of all our colleagues, and I want to thank them for their continued good work. Our colleagues have the key role in delivering an improved shopping trip for customers both in stores and online.

“Morrisons will be an organisation that listens. During the first half, the new executive and leadership teams have been listening hard to colleagues, customers, suppliers and shareholders. They tell us there is a lot for us to do.

“The immediate priority is to deliver a better shopping trip to stabilise trading performance. Our six strategic priorities will then deliver improvement in the core supermarkets, where we have the greatest opportunity.

“It will be a long journey. We approach the challenge with energy, confidence and many strengths, particularly our strong balance sheet and cash flow, which enables investment in improving the customer shopping trip.”

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