Waitrose buys six stores from Morrisons

Waitrose has bought six stores and a depot from Morrisons in a deal worth more than£80 million.

Morrisons employees will transfer to Waitrose when contracts are completed in September and October.

A Morrisons spokesman said the sale was part of the 'ongoing estate management plan to maximise shareholder value'.

The stores, valued at£53.89 million in total, are located in Eastbourne, Formby, Hexham, Lymington, Poole and Southampton.

The distribution centre in Aylesford, Kent - worth£29.97 million - is non-operational at present.

The sales are conditional on landlord approval at three sites.