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Waitrose shops for Morrisons.

Supermarket group Waitrose was yesterday given the official go-ahead to buy 19 stores from rival Morrisons.

The move ( which will increase Waitrose's selling space by 20pc ( was given the green light when the Office of Fair Trading decided not to refer it to the Competition Commission.

Bradford-based Morrisons is selling the shops as part of the disposal programme required by regulators after its takeover of Safeway.

All but one of the stores are Safeway-branded and each will continue to be operated by Morrisons until they are converted. All 19 will be trading under the Waitrose format by November.

Securities firm changes name

LEADING investment management group BWD Securities has changed its name to Rensburg plc.

The company, which offers a fee-based investment management service, manages pounds 3.8bn of funds for its 36,000 clients in seven UK offices. In Newcastle it is run by David Storey, former managing director of rival Gerrard.

Chairman Christopher Clarke said: "The change of name is for clarity and simplicity as we have a number of specialist investment management arms."
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Publication:The Journal (Newcastle, England)
Date:May 29, 2004
Words:176
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