UK oil company BP, and supermarket group Morrisons have announced that they have reached an agreement to end their eight-year old partnership.
The companies plan to divide their assets between them with 31 partnership stores to be taken over by BP, which will be predominantly in Scotland and the South East of the UK), and the remaining 30 by Morrisons.
Under the agreement, the Safeway branding will remain on the 31 BP stores until the end of the year but they will come under the management of BP Retail’s shop arm, BP Express.
Graham Sims, retail director for BP in the UK, said: “The partnership was a leading edge concept when we started and both companies have proved how successful this format can be. It has achieved all of the goals which we both wanted it to achieve but we feel now is the time to move on.”
There are no job losses expected among the 1,600 store staff.
The companies plan to divide their assets between them with 31 partnership stores to be taken over by BP, which will be predominantly in Scotland and the South East of the UK), and the remaining 30 by Morrisons.
Under the agreement, the Safeway branding will remain on the 31 BP stores until the end of the year but they will come under the management of BP Retail’s shop arm, BP Express.
Graham Sims, retail director for BP in the UK, said: “The partnership was a leading edge concept when we started and both companies have proved how successful this format can be. It has achieved all of the goals which we both wanted it to achieve but we feel now is the time to move on.”
There are no job losses expected among the 1,600 store staff.
No comments yet