Londis (United Kingdom)

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

Londis is a chain of convenience shop franchises operating in the United Kingdom and Republic of Ireland.[1] 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.[2] 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.[3]

Operations

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. The name Londis was a contraction of "London District Stores".[1] 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.

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]

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.[1]

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.[9] 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.[3]

References

  1. ^ a b c "Londis - Grocery.com". Perpetual Media Group. Retrieved 10 October 2018.
  2. ^ "Booker Retail Partners (GB) Limited". Endole. Retrieved 2016-08-02.
  3. ^ a b "Booker Group to buy Budgens and Londis". BBC News. 21 May 2015. Retrieved 21 May 2015.
  4. ^ Muspratt, Caroline (2004-06-23). "Londis retailers back Musgrave's windfall takeover". Telegraph. Retrieved 2016-08-02.
  5. ^ "Trouble in store". The Guardian. Retrieved 10 October 2018.
  6. ^ "Anger over Londis directors' payout". Manchester Evening News. Retrieved 10 October 2018.
  7. ^ "Londis deal sees shopkeepers ring up £30,000 each". The Guardian. 23 Jun 2004. Retrieved 10 October 2018.
  8. ^ "Booker Group completes £40m acquisition of Londis and Budgens". Retail Week. 14 September 2015. Retrieved 10 October 2018.
  9. ^ "Thin profits for Londis shopkeepers". Mail Online. Retrieved 10 October 2018.

External links

  • Londis UK website
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