The Sunday Telegraph questions whether supermarkets can continue pouring millions into new store developments in a saturated market.

 

The issue is raised within its preview of this week’s Morrisons results, including the expected announcement of plans to accelerate the new M-local convenience format which several of Saturday’s newspapers also reported. The Sunday Telegraph says the options for the big grocery retailers include dramatically cutting store openings or even disposing of their vast property portfolios to raise cash. Panmure Gordon says supermarkets have a “lemming-like capacity to open new space that makes no sense”.