A £25.5million buyout deal of a leading store chain has been completed.

Day & Nite Stores, which operates convenience shops across East Lancashire and has a major warehouse in Blackburn, has been acquired by Birmingham-based T&S Stores.

Day & Nite was founded in 1923 with one store in Fleetwood. It now has 98 outlets across the North. Its recent store opening programme has included sites on New Bank Road and Bank Top in Blackburn.

Last year the firm invested more than £3million in its distribution centre on the Walker Park close to the M65 which now employs more than 50 people and supplies all its stores in the area.

In the year to August 1999 the chain made profits of £2.3million on turnover of £69.7million.

T&S Stores is one of the largest convenience store chains in the country, operating mainly under the One Stop brand.