Morris’s, a Morrisons, closes on Christmas Day

Slumberlandland furniture is closing on Christmas Eve after struggling for years to turn a profit.

The company announced last month that it had taken a 50% cut to its revenue.

Morrisons closed in January after it struggled for years, with its stock falling by more than half since its initial public offering in 2008.

Its parent company, Morrisons Group Plc, has since put up $1.7 billion to buy the company, but it has faced mounting pressure to make a profit and raise its dividend.

“Morris is an extraordinary company, with the kind of culture and history of innovation and quality that only an industry like ours can deliver,” said Brian Morris, president and chief executive of the family-owned chain.

“We are incredibly proud to have been a part of its history for so many years, and it is our great privilege to continue to support Slumberlands legacy.”

Morrison’s shares closed up 0.2% to $23.94 on Monday.