Retailer will have to book writedown in accounts, which is likely to be worth tens of millions but less than £100m liability estimated by industry sources

Morrisons is facing a bill worth tens of millions of pounds to offload its struggling convenience store business. Britain’s fourth largest food retailer is in talks to sell its 150 M Local stores to the investment firm Greybull Capital.

However, it is understood that Morrisons will be lumbered with a liability of as much as £100m from any sale because there is a parent company guarantee on the rental agreement for the stores.

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Source: The Guardian Circular Economy RSS