Morrisons forge ahead
Supermarket giant to open Kiddicare stores
Morrisons supermarket, one of the so-called Big Four, has been paid £40m to take over 10 empty Best Buy outlets, which will re-open as Kiddicare stores.
It is reported that Morrisons hopes to become the UK's leading retailer of baby and children's furniture and equipment to rival the "dismal" Mothercare.
Carphone Warehouse is paying Morrisons to take on 10 of the sites. The supermarket is being paid a 'reverse premium' by Carphone Warehouse for its troubles, in a move likely to be repeated across the retail sector as shops attempt to extricate themselves from expensive locations to cut costs.
Morrisons said in an official statement that it would invest £15m turning the 10 shops into Kiddicare outlets, which are currently predicted to open later this year. The supermarket chain bought Kiddicare last year for £70m.
Scott Weavers-Wright, Kiddicare's chief executive, says that he wants to open 10 stores, particularly in the North of England and Scotland.
He says "Mothercare has lost its way in the UK when it comes to service. They have failed dismally. The stores are downbeat and tired."
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