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Morrisons market share decreased after its purchase of Safeway, but it eventually grew again after the store disposals and conversions. Morrisons' UK market share declined steadily since 2019; [79] in September 2022 it was 9.1% – behind Tesco (26.9%), Sainsbury's (14.6%), Asda (14.1%), comparable with Aldi (9.3%), and ahead of Lidl (7.1%). [104]
The food retail market has been dominated by the 'big four' supermarkets – Tesco, Sainsbury's, Asda and Morrisons – who made up over three quarters of sector market share in 2010. Tesco is the largest retailer in Great Britain, with a market share of 27.5% at the end of 2022. [a] [1] However, discounters Lidl and Aldi have grown rapidly. [1]
The chain filed for its second bankruptcy and liquidation on August 7, 2019, [13] closing the remaining 54 stores [14] with plans to auction its intellectual property. [15] ALDO filed for bankruptcy on May 7, 2020, citing repercussions related to the COVID-19 pandemic as to why. [16] The shoe chain emerged from bankruptcy two years later. [17]
Joann. The 81-year-old fabric and craft retailer filed for bankruptcy in March, falling victim to customers cutting back on spending, including on fabric, arts and supplies materials. Joann’s ...
KidKraft, a toy company, filed for Chapter 11 bankruptcy and said it would sell its U.S. and Canadian assets to Backyard Products. It has been in business for more than 50 years.
Morrisons’ takeover of McColl’s is expected to be cleared after the supermarket giant told regulators it would sell 28 convenience stores to push the move through.
In 2017 alone, more than 12,000 physical stores closed. The reasons included debt and bankruptcy in the face of rising costs, leveraged buyouts, low quarterly profits outside holiday binge spending, delayed effects of the Great Recession, [3] and changes in spending habits.
The combined forces of the Sept. 11 terrorist attacks and a fickle consumer market did not bode well for the store. Two years later, its parent company, Clark Retail Enterprises, filed for bankruptcy.