SANDPIPERCI Group has reached agreement to sell its convenience food retail business to Wm Morrison Supermarkets Limited.
The transaction will be subject to approval from the Channel Islands’ regulatory authorities, but the firms hope that the deal will be completed by July.
It will include Jersey and Guernsey stores currently trading under the following brands: Morrisons Daily, Iceland, Checkers Xpress and Le Cocq’s in Alderney.
It does not include the Marks & Spencer Jersey business, which will remain part of the SandpiperCI Group.
In a statement, SandpiperCI said: “It is anticipated that all store-based colleagues will transfer over to Wm Morrison Supermarket Limited as part of the disposal. Some redundancies may occur in back-office roles, and Sandpiper will be consulting with affected staff members over the coming weeks.”
