Morrisons unveils which stores will close as 900 jobs face the axe

16th Sep 2015 13:58

(ShareCast News) - Supermarket retailer Morrisons has revealed which 11 stores it will close as part of cost-cutting plans announced last week.The company said the closures, for which it still hasn't outlined a timeframe, would put around 900 jobs at risk.Stores affected by the changes include West Bromwich, Salford and Little Hulton in Greater Manchester, Burnham on Sea and Clevedon in Somerset, Castletown in Sunderland, Northallerton in North Yorkshire, Oldbury in the West Midlands, Shildon in County Durham, Streatham in London and Tyldesley in Wigan.The retailer has closed ten supermarkets this year, eliminating 430 jobs, and 720 jobs were axed at head office soon after new chief executive David Potts took the reins.Late on Tuesday, Moody's cut its credit rating on Morrisons' long-term debt to Baa3 fro Baa2, citing structural challenges and the ongoing shift of consumers to discounters.At 1356 BST, Morrison shares were up 1% at 158.90p.