Musgrave Budgens Londis stores break £2bn sales barrier


Sales in Londis and Budgens stores broke the £2bn barrier last year, according to the financial results published last week by the Musgrave Group.


The turnover in the independently-owned stores in the UK was a 13% increase on the previous year.

There are now 183 Budgens and 1,858 Londis stores within Musgrave Retail Partners, a 9% increase on the 2006 figure.

Group chief executive Chris Martin said the group had completed the sale of its Budgens stores to independent retailers 12 months ahead of schedule.

Plans for the next three years, he said, included a £40m investment in IT and logistics.

Musgrave Retail Partners revealed earlier this year that it would be introducing a £4,000 “base level” EPoS system for its independent retailers.

Martin said the Musgrave Group, including its operations in the UK, Republic of Ireland and Spain, faced a “more challenging economic environment”, but he remained confident about the future of the business.

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