Morrison may sell Safeway Compacts

Published on Thursday 1 July 2004 01:37

WILLIAM Morrison may sell its 120 Safeway Compact stores as it looks to turn around revenues at the chain it bought four months ago on the way to becoming Britain’s fourth largest food retailer.

"At the time of the acquisition we said we were surprised by the significant levels of interest shown in the smaller stores. That level of interest has been maintained and we now plan to test its full extent in the market," a spokesman said.

The takeover was cleared on the basis Morrison would sell 52 Safeway stores. That process is well under way, with John Lewis having bought 19 Safeway stores and Sainsbury buying 14 stores.