Jobs uncertainty in Harlow as convenience store McColl’s on brink of collapse
Business / Sat 7th May 2022 pm31 12:52pm
MCCOLLS Retail Group, one of Britain’s biggest convenience store chains, is on the brink of collapse, putting thousands of high street jobs at risk.
Sky News has learnt that McColl’s, which has an extensive national partnership with the supermarket giant Morrisons, could call in administrators as early as Friday.
The company’s imminent collapse is expected to spark renewed interest in a partial takeover from both Morrison’s and EG Group, the petrol retailing giant owned by TDR Capital and the billionaire Issa brothers Mohsin and Zuber.
Retail industry sources said on Thursday that the situation remained fluid but a collapse into some form of insolvency proceedings was now more likely than not.
One cautioned, however, that a rescue deal did remain possible and said that ongoing talks about McColl’s future could mean that the appointment of administrators was delayed beyond the end of this week
Full story on Sky News can be found below.
That's awful for every person involved I visit the stores in potter street and bush fair and feel sorry for the staff hopefully they'll be some sort of buy out or take over to assist those with jobs at risk 👍