Morrisons to close 11 supermarkets as profits fall 47%

Morrisons is to close 11 supermarkets after announcing a 47% fall in half-year profits, a downturn which comes on the back of continued market share loss to the discounters Aldi and Lidl.

One of the UK’s big four supermarkets, Morrisons is a member of the 100% “club” in terms of its commitment to sourcing its pork supplies exclusively from British producers.

The company’s British commitment for other pigmeat supplies, according to AHDB’s porkwatch service, is 77% for sausages, 69% for ham and 57% for bacon.

The decision to close 11 supermarkets, follows the announcement earlier this week that the company had already sold 140 M Local stores.

Morrisons’ chief executive, David Potts, said that the company “regretted” the 11-store closure, stating that it was a difficult decision.

A further group statement, added: “Customers and colleagues are beginning to notice improvements, but the turnaround will take time.”

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