Morrisons has sold its two Channel Island Safeway stores to Jersey-based-company CI Traders for £51m.
The disposal of its Jersey and Guernsey stores comes as Morrisons seeks to concentrate on its core UK business.
The move will also add fuel to speculation that it is seeking to sell its 13 Northern Irish Safeway stores, with Asda being the most likely buyer.
CI Traders said that it would continue to operate the stores under the existing trading names of Safeway Stores (Jersey) and Safeway Stores (Guernsey).
Meanwhile Morrisons has agreed a £15.5m deal to buy a number of key assets from the administrators of Rathbones Bakeries.
Morrisons has bought freehold premises at Wakefield, Wigan and Lydney and Rathbone Kear a new company in which Morrisons has a majority shareholder has bought bakery equipment at these premises as well a lease of bakery premises at Middlesborough.
Morrisons said that the deal would secure continuity of supply to for Morrisons and other retailers and continuity of employment for a substantial number of Rathbones employees.
The disposal of its Jersey and Guernsey stores comes as Morrisons seeks to concentrate on its core UK business.
The move will also add fuel to speculation that it is seeking to sell its 13 Northern Irish Safeway stores, with Asda being the most likely buyer.
CI Traders said that it would continue to operate the stores under the existing trading names of Safeway Stores (Jersey) and Safeway Stores (Guernsey).
Meanwhile Morrisons has agreed a £15.5m deal to buy a number of key assets from the administrators of Rathbones Bakeries.
Morrisons has bought freehold premises at Wakefield, Wigan and Lydney and Rathbone Kear a new company in which Morrisons has a majority shareholder has bought bakery equipment at these premises as well a lease of bakery premises at Middlesborough.
Morrisons said that the deal would secure continuity of supply to for Morrisons and other retailers and continuity of employment for a substantial number of Rathbones employees.
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