Morrisons kids' shop takes over leases of 10 Best Buy stores
Friday 27 January 2012
Kiddicare, the online baby products retailer acquired by Morrisons last year for £70m, has bought the 10 shops exited by the electricals retailer Best Buy UK this month.
Carphone Warehouse, which has discontinued the joint venture with Best Buy's UK stores, has paid Morrisons £40m to take over the leases on the shops.
Kiddicare will spend £15m converting the stores to the Kiddicare brands, creating 700 new jobs in the process.
The first converted store will open before the autumn.
Scott Weavers-Wright, the chief executive of Kiddicare, said: "These 10 flagship stores will put Kiddicare within easy driving distance of nearly a third of the UK population."
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