Morrisons is to be paid £40m to take on the 10 empty Best Buy stores it is converting to Kiddicare.

The grocer will be paid a reverse premium by Carphone Warehouse to take on the sties, The Telegraph reported.

The retail park stores, which are within an easy drive of 30% of the population, were owned by Carphone in conjunction with US electricals retailer Best Buy.

Kiddicare announced yesterday it is to invest £15m into the stores as it looks to become the UK’s largest retailer of baby products and children’s equipment.

It is thought that reverse premium deals are likely to become more common as retailers attempt to cut costs and leave expensive locations.

All of the major grocers are pushing hard in childrenswear. Today Tesco took national press ads to advertise its “amazing baby event” cutting prices in half on a number of key baby product lines.