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Londis (United Kingdom)

Londis is a chain of convenience store franchises operating in the United Kingdom and Republic of Ireland. The stores form a symbol group and are all owned on a franchise basis. As of December 2014, the company had an estimated net worth of £79 million.[1] Since May 2015, the company has been owned by Booker Group, which purchased Londis and its sister company Budgens from the Musgrave Group for £40 million.[2]

Londis
Private
Industry Retail
Founded 1959
Area served
United Kingdom
Products Groceries
Parent Booker Group owned by Tesco
Website www.londis.co.uk

OperationsEdit

 
A Londis in London in 2007

Londis was established in Great Britain in 1959 by Kevin Stanley Adams as a communally owned company, with each retailer owning a share in the parent company.[citation needed] The name Londis was a contraction of "London District Stores".[citation needed] However, in June 2004, the parent company was sold to the Irish Musgrave wholesale chain with a payment of £31,000 being made to each retailer who owned a stake,[3] bringing it under the same ownership as Budgens, which has now adopted a similar franchise based business model.

This acquisition was highly controversial,[original research?] with the CEO of Musgrave in the United Kingdom, Eoin McGettigan, steering through the choppy waters of member revolts and counter offers from others backed by Icelandic banks.[citation needed] A separate, but wholly owned subsidiary company, Musgrave Retail Partners GB Ltd. was formed to supply the stores.[citation needed]

The current Londis retailer network is in excess of 2,200 stores, and forecourt shops located throughout England, Scotland and Wales. 2008 saw an increase of over 200 stores, a record yearly increase for Londis.[citation needed] There is a Londis at every Butlins, Pontins and Haven Holidays camp.[citation needed]

A typical Londis outlet will have a sales area of about 1,100 square feet (100 m2).[citation needed] The stores usually open early in the morning and stay open all day, closing late in the evening. In May 2015, Londis' parent company Musgrave Group confirmed it had reached an agreement to sell Budgens and Londis for £40 million to the wholesaler Booker Group, subject to regulatory approval.[2]

ReferencesEdit

  1. ^ "Booker Retail Partners (GB) Limited". Endole. Retrieved 2016-08-02. 
  2. ^ a b "Booker Group to buy Budgens and Londis". BBC News. 21 May 2015. Retrieved 21 May 2015. 
  3. ^ Muspratt, Caroline (2004-06-23). "Londis retailers back Musgrave's windfall takeover". Telegraph. Retrieved 2016-08-02. 

External linksEdit