Morrisons has ended its 14-year relationship with MBL Group, forcing the distributor to put itself up for sale.
The firm has been in discussion with Morrisons for months to try and secure a new contract. 78 per cent of MBL’s turnover in its last financial year was made through its relationship with Morrisons.
The Group has now appointed KPMG Corporate Finance to seek a suitable buyer and is now in an offer period.
The company said that there would be ‘significant downsizing of our operations and with regret the resultant loss of employment for many of our employees.’
The final termination date of MBL’s deal with Morrisons is September 14th.