Morrisons announced the closure of 100 under‑performing convenience shops, putting hundreds of jobs at risk in 2024. The retailer said a recent review confirmed the sites have been loss‑making for years and rising cost pressures make a turnaround impossible. CEO Rami Baitiéh blamed recent government policy, including higher National Insurance, minimum‑wage hikes and new packaging‑recycling rules, for widening the losses in 2024.

The chain, now owned by private‑equity firm Clayton Dubilier & Rice, has already shed other non‑core units such as pharmacies, cafés and meat counters. It purchased 1,164 McColl’s stores in 2022 for £190 mn, rebranding them as Morrisons Daily. With roughly 1,700 convenience sites—about 700 franchised—the group will focus growth on the franchise model while trimming unprofitable owned shops in 2024.

Morrisons posted a £318 mn loss for the year to October, while net debt fell 46 % to £3.2 bn after a wave of sale‑and‑leaseback transactions. Interest outlays dropped to £281 mn, still sizable against a market share of 8.4 %. The closures underscore the pressure on traditional grocers as discount rivals and cost‑inflation erode margins. Overall, the moves tighten the retailer’s cost base but highlight vulnerability to policy‑driven expense spikes.