Morrisons rescues McColl’s taking on all 16,000 staff
Business / Tue 10th May 2022 am31 06:35am
SUPERMARKET group Morrisons has won a battle to rescue McColl’s, the convenience store and newsagent chain, and taken on all 16,000 staff members reports the BBC.
Morrisons beat a rival offer from EG Group, the petrol station empire, owned by the billionaire Issa brothers.
Morrisons will pay off McColl’s £170m debts and take on its 1,160 shops and pension schemes, with 2,000 members.
The supermarket’s boss said the deal offered stability and continuity for the business, its staff and pensioners.
McColl’s was put into administration by PwC on Monday and was immediately sold to Morrisons.
Rob Lewis, joint administrator and partner at PwC, said the deal provided “much needed certainty to McColl’s 16,000 staff after a period of understandable concern”.
Retail trade union Usdaw has welcomed the intervention of supermarket giant Morrisons in rescuing convenience retailer McColl’s, potentially saving 1,100 stores and 16,000 jobs. Usdaw is now seeking assurances for the future for staff along with trade union recognition to give them a voice in the business.
Joanne McGuinness – Usdaw National Officer says: “It is great news that Morrisons has been successful in their bid to buy McColl’s out of administration and it will be a huge relief for the staff. We are now seeking urgent discussions with Morrisons to help secure the future for the staff.
“McColl’s was a non-unionised business, which meant their staff had no real voice in the future of the business. Usdaw has a long-standing and productive relationship with Morrisons and we will be looking to extend trade union representation to all staff in McColl’s.”
Ah that's good news for all the McColls staff well done Morrisons 👍☺️