Published 2 years ago

Thousands of jobs at risk as convenience store giant McColl's teeters on brink of collapse

Summary by Ground News

Retailer says it is "increasingly likely" it will fall into administration. More than 16,000 people are employed by McColl's, which also has a partnership with supermarket Morrisons. Company wrote that without any extra cash, the group would likely "be placed into administration." But it stressed that discussions are still ongoing.

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BBC News

McColl's convenience store chain on brink of collapse

The retailer said on Thursday that it was increasingly likely it would enter administration.

2 years ago·United Kingdom

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The Guardian

Retailer McColl’s ‘increasingly likely’ to call in administrators

Convenience store chain says any rescue likely to result in little or no value being attributed to its shares

2 years ago·London, United Kingdom

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The Independent

McColl’s convenience store group says administration ‘increasingly likely’

Shares in the firm had already plunged as it reported last month that talks with its lenders and banks would likely leave shareholders empty-handed.

2 years ago·London, United Kingdom

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Reuters

UK convenience chain McColl's says it could fall into administration

Struggling British convenience shop chain McColl's said on Thursday it was increasingly likely that the group would be placed into administration, a move that could put thousands of jobs at peril. The company statement was released after a Sky News reporter tweeted that McColl's, which has an extensive partnership with supermarket major Morrisons, could crash into administration as

2 years ago·United Kingdom

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Daily Mirror

McColl's store chain on brink of collapse with thousands of jobs at risk

McColl's store chain has said it is looking "increasingly likely" the 1,400 store group will fall into administration unless an alternative funding solution is reached

2 years ago·London, United Kingdom

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Metro News

Thousands of jobs at risk as McColl’s administration ‘increasingly likely’

Without fresh funding in the short-term, the retailer will be placed into administration (Picture: McColl’s)McColl’s is reportedly on the brink of collapse – with administration ‘increasingly likely’.Around 16,000 jobs are in jeopardy as a result of the situation.The retailer has been in discussions with potential lenders in a bid to save the convenience stores from peril.McColl’s struggled throughout the pandemic due to supply chain issues, hea…

2 years ago·London, United Kingdom

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