Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Manchester Evening News
Manchester Evening News
National
Damon Wilkinson

53 McColl's convenience stores in Greater Manchester under threat as firm on brink of collapse

Some 53 McColl's convenience stores in Greater Manchester are under threat of closure after the chain confirmed it could fall into administration. The company, which is listed on the London Stock Exchange, employs about 16,000 people, or roughly 6,000 on a full-time equivalent basis and has more than 1,100 convenience shops across England, Scotland and Wales.

But last night the firm said it was 'increasingly likely' it could fall into administration. McColl's has been in discussions with potential lenders to shore up the business, which struggled badly during the pandemic due to supply chain issues, inflation and a heavy debt burden.

In a statement in which it described itself as 'the UK’s leading community retailer', a representative said: "As previously disclosed on April 25 2022, the group remains in discussions regarding potential financing solutions for the business to resolve short-term funding issues and create a stable platform for the business going forward.

Read more:

"However, whilst no decision has yet been made, McColl’s confirms that unless an alternative solution can be agreed in the short term, it is increasingly likely that the group would be placed into administration with the objective of achieving a sale of the group to a third-party purchaser and securing the interests of creditors and employees.

"Even if a successful outcome is achieved, it is likely to result in little or no value being attributed to the group’s ordinary shares." The spokesman said a further update would be made 'as and when appropriate'.

But it has been reported Morrisons is considering plans to rescue McColl's. The supermarket chain's takeover would include repaying its lenders in full and protecting the vast majority of its 1,100 shops and 16,000, Sky News reports.

The stores in Greater Manchester

Rochdale

Albert Royds Street

Smith Street

Sutherland Road

Kenyon Lane

Bury

Walmersley Road

Ainsworth Road

Parkhills Road

Thatch Leach Lane

Manchester

Victoria Avenue

Lightbowne Road

Ducie Street

Stretford Road

Ellesmere Street

Hollyhedge Road

Peel Hall Road

Salford

Phoebe Street

Folly Lane

Hulton District Centre

Walkden Road

Bolton

Newbrook Road

St Helens Road

Tonge Old Road

Brownlow Way

Wigan

Carbank Street

Gadfield Grove

Atherton Road

Warrington Road

Wallgate

Marsh Green

Norley Hall Avenue

Clapgate Lane

Wigan Road

Trafford

Irlam Road

Flixton Road

Old Hall Road

Shaftesbury Avenue

Ashley Road

Stockport

Outwood Road

Redford Drive

Arundel Avenue

Stockport Road

Green Lane

Didsbury Road

Reddish Road

Manchester Road

Broadstone Road

Thorley Lane South

Gorton Road

Tameside

Haughton Green Road

Ashton Road

Astley Street

Oldham

Oldham Road

Hollins Road

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.