Losses for Safeway in the North

Heavy losses are continuing to be incurred by the Safeway stores group in Northern Ireland, where it operates the former Wellworth…

Heavy losses are continuing to be incurred by the Safeway stores group in Northern Ireland, where it operates the former Wellworth outlets through a 50/50 joint venture with partner Fitzwilton.

Overall, the Northern Ireland stores suffered operating losses of £9.4 million sterling before interest and property costs on £146 million turnover, including VAT, in the year to end-March, reports Safeway in its full-year figures. This compares with losses of £8.9 million suffered on £64 million turnover in the months following the mid-1997 formation of the Safeway/Fitzwilton joint venture.