Fri, 22 May 2026
It said difficulties had been exacerbated by "significant cost increases resulting from government policy choices".
Morrisons, a UK supermarket chain, plans to close around 100 loss-making convenience stores over the coming months. The closures are attributed to increased costs resulting from government policies, including higher national living wage and National Insurance contributions. Morrisons stated that the affected stores were acquired through its McColls acquisition in 2022 and had been struggling financially for some time. The company expects hundreds of jobs to be at risk and will begin consulting with staff soon. Despite the closures, Morrisons claims it has a "robust expansion plan" for 2026, aiming to open hundreds more franchise stores across the UK. The decision comes amidst rising costs for retailers due to government policies such as increased employer NICs and higher minimum wages. Many retailers have argued that these policies are exacerbating inflation and making it difficult for businesses to remain profitable.
Terms of Use | Privacy Policy | Manage Cookies+ | Ad Choices | Accessibility & CC | About | Newsletters | Transcripts
Business News Top © 2024-2025