Morrisons photo booth contract bought by Retec

Monday, 10 November 2008
Retec Digital has taken on the contract from Consolidated Vending to supply Morrisons with photo booths after the latter company went into administration.

A cash payment of £450,000 has been handed over to administrator Tenon Recovery for the trading assets associated with the Morrisons contract.

"Good opportunities" will now exist for Retec, its board said, as the firm already has contracts with Sainsbury's, Asda and Tesco.

The contract with Morrisons is worth about 60% of Consolidated Vending's £3m turnover from photo booths.

Morrisons property owner Roger Owen said: "We are pleased to have secured this agreement with Retec and look forward to exploring opportunities for growing the business we do together".

Retec said this year that traditional retailers face increasing competition from online channels.
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