Thursday, September 08, 2005

Building restrictions could put off supermarket sale

Morrisons chiefs in Gibraltar

Morrisons seeking to sell Gibraltar operation for £30m
Staff at the Morrisons (Safeway) supermarket were yesterday being visited by senior management from UK, it emerged.

The company declined to comment on the reason for the visit or to dispel growing speculation about their interest in selling the Gibraltar operation.

However, whilst local business interests have been looking at the project, it emerged that Morrisons have been informed that there would be restrictions on physical development of the site, one of the main attractions to an outside investor given premium land values.

The good turnover and viability of the current operation had never been in doubt.

Morrisons were prepared to confirm that the supermarket will continue operations as at present for the foreseeable future.

Related Articles:

02 September 2005 - All change for Gibraltar’s supermarkets

11 August 2005 - Gibraltar Safeway still up for sale, says Morrison

07 June 2005 - Morrisons moves…

27 May 2005 - Gibraltar's Safeway up For Sale

22 April 2005 - Morrisons consider bid for Gibraltar Safeway store - Confirmed


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