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Morrisons buys Blockbuster branches and expands in south
4:46pm Sunday 17th February 2013 in News
SUPERMARKET Morrisons has bought 49 stores from failed DVD and games rental chain Blockbuster as it steps up plans to expand its convenience business.
The deal will not prevent any of the job cuts already announced by Blockbuster administrators Deloitte, but Morrisons said it hopes to create around 1,000 jobs as it reopens the shops as convenience stores.
The UK's fourth-biggest grocer also announced the rebranding of its M Local convenience business to Morrisons M local.
Today's announcement - for an undisclosed sum - follows the recent acquisition of seven stores from collapsed camera retailer Jessops as Morrisons takes advantage of quick access to high street locations to build up its convenience chain.
Many of the branches will be in the south of England. Morrisons is accelerating expansion plans after struggling to compete because of its small number of convenience stores, as well as a lack of grocery delivery service.