An independent retailer has vowed to keep expanding his business after purchasing his 12th store.

London-based Karmel Razza, who owns the Retail 24 chain, said recession fears would not deter him from adding to his portfolio.

"No matter how bad the situation gets, people are still going to buy groceries," he said. Karmel also believes that the c-store industry could profit from the credit crisis, as people chose to shop locally and save fuel. "They will also be keen to eat at home rather than going out, so that will benefit us, too," he said.

Karmel's newest store (pictured below), in Wandsworth, was purchased from Midcounties Co-operative. The 1,035sq ft high street store sold within three weeks of coming to market.

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