Waitrose of North sinks to £15m loss after storms

POSH northern supermarket Booths has been plunged further into the red after poor sales figures saw its losses more than double.

The results will ramp up concerns over Booths’ finances, with the Lancashire-based supermarket reportedly looking for a buyer after being operated as a family business for five generations.

Dubbed the ‘Waitrose of the North’, it lost £14.8m for the year to April 1, ballooning from losses of £6.3m a year earlier.

According to Companies House accounts, sales at Booths dropped 4.3pc to £263.4m as it suffered from damage to its stores from Storm Desmond in 2015.

It said competition, rental costs for its new larger stores and the National Living Wage had contributed towards losses. After reports emerged that Booths was up for sale, some industry experts speculated that Amazon could be a suitor, adding to its £10.3bn takeover of organic grocer Whole Foods this year.

Booths would not confirm the reports at the time but said it was keeping its options open.