The new round of closures means Waitrose will have closed or sold off 17 stores in two years. Photograph: Neil Hall/Reuters

Nearly 700 jobs were at risk due to Waitrose axe seven more stores

Aminy Andawi
Business Tips in Indonesia
Labor & Employment
Jul 19, 2019
2386
Waitrose is closing its seven supermarkets and it is their second round of store reduction which puts nearly 700 jobs at risk. Lidl have bought three of Waitrose’s supermarkets in Bromley in London, Oadby in Leicestershire and Wollaton in Nottinghamshire as the grocery market business is radically shaken up by fast-growing cut-price chains.

Lidl and Aldi, its German discounter are overtaking Waitrose to become UK’s 5th and 7th greatest grocers which control 14% of the market, up from 10% three years ago. While Waitrose’s sites in Marlow, Stevenage and a convenience store at BA headquarters will close down this autumn, an unnamed buyer bought Waitrose’s fourth store in Sandhurst.

There are 677 employees who are being consulted with options to redeployment within the group. However, no staff is expected to transfer to the new site owners. Waitrose’s director of shop trade, Mark Gifford said that the company hasn’t taken any decision for the whole business. The effort that all staffs and partners have done has to lead the company to good progress and profit growth. However, the company hasn’t found a way to make the business have a long term profit.

According to insights director at grocery analysts TCC Global, the moves that Waitrose takes to close some of its stores' id similar to what the traditional rivals such as Morrisons, Siansburry and Tesco were doing in recent years.

Source: https://business-support-network.org/ukbiz/waitrose-to-axe-seven-more-stores-putting-700-jobs-at-risk/

Business , International