Londis (United Kingdom)
Type | Private |
---|---|
Industry | Retail |
Founded | 1959 |
Area served | United Kingdom |
Products | Groceries |
Parent | Booker Group owned by Tesco |
Website | www |
Londis is a chain of convenience shop franchises operating in the United Kingdom. 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] Booker Group is a subsidiary of Tesco plc.
History[]
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. The name Londis was a contraction of "London District Stores".[3] 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,[4] bringing it under the same ownership as Budgens, which has now adopted a similar franchise based business model.
Acquisition[]
This acquisition proved controversial,[5][6] 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.[7] A separate, but wholly owned subsidiary company, Musgrave Retail Partners GB Ltd. was formed to supply the stores, until it was sold to Booker Group in 2015.[8]
Operations[]
The current Londis retailer network is in excess of 2,200 stores and forecourt shops located throughout England, Scotland and Wales.[9] 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.[3]
Londis shops typically have a sales area of 1,100 square feet (100 m2). The stores usually open early in the morning, typically 7:30 or earlier, and stay open all day, closing late in the evening.[citation needed]
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]
Londis is the trading name of Booker Retail Partners (GB) Ltd with a registered office address in Wellingborough.
References[]
- ^ "Booker Retail Partners (GB) Limited". Endole. Retrieved 2 August 2016.
- ^ Jump up to: a b "Booker Group to buy Budgens and Londis". BBC News. 21 May 2015. Retrieved 21 May 2015.
- ^ Jump up to: a b "Londis - Grocery.com". Perpetual Media Group. Retrieved 10 October 2018.
- ^ Muspratt, Caroline (23 June 2004). "Londis retailers back Musgrave's windfall takeover". Telegraph. Retrieved 2 August 2016.
- ^ "Trouble in store". The Guardian. Retrieved 10 October 2018.
- ^ "Anger over Londis directors' payout". Manchester Evening News. Retrieved 10 October 2018.
- ^ "Londis deal sees shopkeepers ring up £30,000 each". The Guardian. 23 June 2004. Retrieved 10 October 2018.
- ^ "Booker Group completes £40m acquisition of Londis and Budgens". Retail Week. 14 September 2015. Retrieved 10 October 2018.
- ^ "Exclusive: Londis reaches 2,000 stores after fall of Conviviality". betterRetailing. 9 May 2018. Retrieved 18 August 2020.
External links[]
Wikimedia Commons has media related to Londis. |
- Tesco
- 1959 establishments in the United Kingdom
- Convenience stores of the United Kingdom
- Demutualized organizations
- Former co-operatives of the United Kingdom
- Business services companies established in 1959
- Retail companies established in 1959
- Retailers' cooperatives
- British brands
- Supermarkets of the United Kingdom
- Retail companies of the United Kingdom