morrisons to close all petrol stations

[bassett one]

went to get my petrol as normal, then found out by chatting to the lady they have sold them to pay there debts she said, i dont know if this last bit is true,its i said nice to see the petrol going down and she then said not for much longer as we have sold out and the prices will go up.

[The_DADDY]

2 minutes ago, bassett one said:

went to get my petrol as normal, then found out by chatting to the lady they have sold them to pay there debts she said, i dont know if this last bit is true,its i said nice to see the petrol going down and she then said not for much longer as we have sold out and the prices will go up.

Hmmm, well that explains why Catcliffe morrisons petrol station has recently changed.

I just thought morrisons had a rebranding or something. 

[peak4]

It's not a new thing, there was publicity about it at the start of the year, but I think the deal was finalised more recently; no idea what will happen to prices, but they will presumably have to remain competitive with adjacent outlets.
Morrisons agrees to sell forecourts arm in £2.5bn tie-up  BBC  Published   30 January

MFG and Morrisons announce closing of petrol forecourts transaction  MFG Not it's announcing the closure of the transaction, not the forecourts

Morrisons completes £2.5bn MFG petrol forecourts sale   Retail Gazette

 

 

 

[peak4]

Grrrrrrrrrrrr. 1 minute edit strikes again
Note it's announcing the closure of the transaction, not the forecourts, as opposed to "Not it's announcing the closure of the transaction, not the forecourts"

[geared]

11 hours ago, peak4 said:

they will presumably have to remain competitive with adjacent outlets.

 

I dunno, it's not bothered ASDA jacking their prices up.

https://www.bbc.co.uk/news/articles/c0jj77kxjveo

 

[Anna B]

Morrisons  were probably offered a price they just couldn't refuse.

That's how Corporations grow and grow - by buying up all the competition.

As Bassett one said, as soon as they've cornered the market, they jack the price up as much as they want because people have no choice but to pay it.

[peak4]

37 minutes ago, Anna B said:

Morrisons  were probably offered a price they just couldn't refuse.

That's how Corporations grow and grow - by buying up all the competition.

As Bassett one said, as soon as they've cornered the market, they jack the price up as much as they want because people have no choice but to pay it.

Not quite in this case;
Private equity firm CD&R and MFG's relationship;   [screenshot as I can't select text to copy]

https://www.motorfuelgroup.com/app/uploads/2023/06/CDR-Firefly-Holdco-Financial-Statements-2022.pdf

 

CD&R won the auction for Morrisons
https://www.theguardian.com/business/2023/feb/27/is-private-equity-tearing-the-soul-out-of-morrisons-supermarket

‘We all say he would be turning in his grave. It is not what it was,” says one former member of staff outside the Girlington branch of Morrisons in Bradford.

On the streets of the West Yorkshire city that Sir Ken Morrison helped put on the map, the mood surrounding Britain’s fifth-biggest supermarket chain is decidedly glum.

The former employee is far from alone in shuddering at the thought of what Morrison, who created a national chain from his dad’s grocery shop, would make of its current state.

Sixteen months on from a feverish bidding battle that ended with the giant US private equity firm Clayton, Dubilier & Rice (CD&R) taking it over for £7bn, the 124-year-old chain has fallen into a hole that just keeps getting deeper.

While shoppers grumble about gaps on shelves, prices that keep rising, a less-rewarding loyalty scheme, fewer staff, increasingly tatty stores and more of the dreaded self-checkouts, the financial players that supported the top-of-the-market takeover are also getting cold feet. Spooked by the chain’s haemorrhaging of market share and rising interest rates, the banks that supported the deal to buy Morrisons have just offloaded €500m of debt at a steep discount, making a loss on their investment.

 

CD&R’s Morrisons sells petrol forecourts to sister company MFG for £2.5bn
The deal will help the private equity-owned supermarket service its debt pile   FT Via archive.ph

Private-equity owned UK supermarket chain Wm Morrison has agreed a £2.5bn deal to sell its petrol forecourt business to sister company Motor Fuel Group, in a move that will help Morrisons shore up its balance sheet. 
Both companies are owned by US buyout firm Clayton, Dubilier & Rice. Under the terms of the deal, Morrisons will retain a 20 per cent stake in the enlarged MFG, and is expected to receive about £1.8bn to £1.9bn in proceeds.
The deal comes as Morrisons seeks to improve its sales performance under new chief executive Rami Baitiéh and service its £5.5bn net debt pile following sale-and-leaseback deals on some of its properties.

[Allen]

Drove into Morrisons garage in Risca, South Wales today to find the on site shop closed and notices on every pump saying “pay at pump only “.

Not being tecky savvy I drove out again and found a local garage operating normally. 
And fond it was 2 pence a litre cheaper.

Result!

[ECCOnoob]

2 hours ago, Allen said:

Drove into Morrisons garage in Risca, South Wales today to find the on site shop closed and notices on every pump saying “pay at pump only “.

Not being tecky savvy I drove out again and found a local garage operating normally. 
And fond it was 2 pence a litre cheaper.

Result!

 

If you haven't got the technical capabilities of putting your card in slot and pushing a couple of buttons, you shouldn't be operating a car.

 

Good grief.  Pay at pump is barely more than a glorified card machine, not a nuclear control centre. 

[Baz1]

Even as a supermarket they have been slipping down.

 

Need a revamp, investment and better leadership .

 

I pop into one now and again because of the salad counter- but we never do our bulk shopping there.