Firm closing

[Ham_N_Eggs]

https://www.three.fm/news/isle-of-man-news/tesco-buy-shoprite-supermarket-giant-to-take-over-existing-shops Shoprite sold to Tesco officially.

Edited October 9, 2023 by Ham_N_Eggs

[CrazyDave]

2 minutes ago, Gizo said:

So by all accounts If it has been sold, the whole island will have to shop at coop, spar and Robinsons.  Well try telling that to the entire island. 
 

Go take your head for a wobble. 

I said hopefully.  I am fully aware that most people are incapable of looking at the bigger picture and would probably be happy to see Tesco take over the Shoprite stores.

Those people are idiots.  In an ideal world there would be enough with common sense who would refuse to set foot in the place but people are stupid.

[NoTailT]

Now it's a monopoly.

[Ham_N_Eggs]

Just now, NoTailT said:

Now it's a monopoly.

Apart from all the co-ops...

[Gladys]

1 minute ago, Ham_N_Eggs said:

Apart from all the co-ops...

And the Spars, M&S, etc.

Can't see them keeping all the stores open.

Edited October 9, 2023 by Gladys

[Ham_N_Eggs]

Just now, Gladys said:

And the Spars, M&S, etc.

Let's not forget the last man standing: Howard's Convenience. 

[newaccount]

Well that means there's 9 more shops at which to use Amex.

 

This will undoubtedly mean Subway franchise closing.  

 

Longer term this will mean no Shoprite objections to a larger Tesco superstore

Edited October 9, 2023 by newaccount

[Amadeus]

28 minutes ago, User Name said:

Shoprite have sold out to Tesco - hot off the press.

Was on the cards for a while. Just look at the state of SR supermarkets. 

[Bombay Bad Boy]

Page 404 - Business not found.

 

[Dave Hedgehog]

Of course the big question is what happens with existing contracts. Will the rebranded shoprites be forced to stock Sainsbury's stuff for a while.....

[CrazyDave]

3 minutes ago, newaccount said:

Well that means there's 9 more shops at which to use Amex.

 

This will undoubtedly mean Subway franchise closing.  

 

Longer term this will mean no Shoprite objections to a larger Tesco superstore

It will mean less stores.  There is no way they will keep them all open.

The number of people celebrating this news on Facebook is a worrying insight into the intelligence of our population.

[GD4ELI]

21 minutes ago, swoopy2110 said:

Until they have a total monopoly and increase the prices appropriately ?

This is where Tynwald steps in, remember that useless bunch? Any takeover may require approval, part of a takeover could be to limit price difference to the UK.

 

[swoopy2110]

5 minutes ago, newaccount said:

This will undoubtedly mean Subway franchise closing. 

I know it's not a massive part of the Island, but probably, another 'thing' gone.

[newaccount]

2 minutes ago, GD4ELI said:

This is where Tynwald steps in, remember that useless bunch? Any takeover may require approval, part of a takeover could be to limit price difference to the UK.

 

Jason Tarry, Tesco UK CEO, added: “I am really pleased that we’ve reached this agreement with Shoprite. Deryck and Kevin Nicholson and the team at Shoprite have built a fantastic business over many years and we look forward to welcoming Shoprite’s store colleagues and customers to Tesco.

“It’s particularly important that we are able to deliver great value for customers on the island. For that reason, we will be linking prices locally with those in the UK*. Our priority is to deliver for Manx customers the fantastic value that we deliver for all of our customers.

“We will now be engaging with suppliers and the wider community in the Isle of Man, many of whom we know well as Tesco has been operating locally for 23 years.”

https://www.manxradio.com/news/isle-of-man-news/shoprite-sells-nine-stores-to-tesco/

 

 

Slightly different on Energy

 

https://www.energyfm.net/cms/news_story_800567.html

 

Tesco will be linking prices locally with those in the UK post-transition, plus a small additional fee for transportation, in line with its approach at the existing Douglas store.

Edited October 9, 2023 by newaccount

[NoTailT]

1 minute ago, CrazyDave said:

It will mean less stores.  There is no way they will keep them all open.

The number of people celebrating this news on Facebook is a worrying insight into the intelligence of our population.

Indeed you can see this leading to a major new superstore in Douglas at some point, with maybe a Port Erin and Ramsey store.

Can't see anything else. But Tesco has a lot of smaller convenience stores in the UK too. Interesting times.

As far as supermarket shopping goes, this is border monopoly. You can't compare it to Coop and its smaller convenience stores.