THESE PROPERTIES WERE THE RUMP OF THE MORRISONS LOCAL LEASES AND, ALTHOUGH THEY WERE MOSTLY IN ADMINISTRATION, MOST WERE SUBJECT TO MORRISONS PARENT COMPANY GUARANTEES.
![morrisons_logo-300x156](https://surpluspropertysolutions.com/wp-content/uploads/2024/03/morrisons_logo-300x156-2.png)
TRANSACTION COMPLETED IN JUNE 2019
SPS managed to extricate all the leases out of administration and rapidly worked out this portfolio primarily by sub-letting and/or surrendering the leases. Over 18 months, including throughout the pandemic, SPS reduced the liability of this portfolio by 80%.
![morrisons_april_19](https://surpluspropertysolutions.com/wp-content/uploads/2024/03/morrisons_april_19-1.jpg)