Morrisons denies Asda buy-out speculation

Supermarket chain Morrisons said today it was not on the verge of selling its Northern Ireland stores to Asda.

Morrisons acquired 13 stores in the North when it bought the Safeway chain last year.

It moved today to quash speculation it was about to sell the stores to US-owned giant Asda.

In a statement the company said: “Following the recent media speculation that Asda is on the verge of purchasing the 13 Safeway stores in Northern Ireland, Morrisons Plc is stating that this information is incorrect. It is very much business as usual for Safeway stores in Northern Ireland.”

The re-branding of the Safeway stores in the North as Morrisons has yet to begin, although a large quantity of Morrison own-brand goods are stocked.