Morrisons to close 23 local stores

UK: Morrisons is set to close 23 convenience stores after reporting losses of £792m.

The supermarket chain says it will close 23 of its 153 M local stores during 2015/16 and will review its “proposition and site selection criteria.”

The announcement comes on top of the decision last month to close 10 loss-making supermarkets. It will, however, open three new supermarkets totalling 106,000ft² this year.

In its preliminary results, the company said “We continually review the performance of all stores and remain committed to rigorous and optimal capital discipline. We undertake an annual store closures review. However, we have no current plans to close any more supermarkets.