The billionaire Issa brothers missed out on buying McColl's despite submitting an offer higher than the £190.1m winning bid from Morrisons.
New documents produced by administrators PwC have revealed that the supermarket’s rescue package for the convenience retailer was £182.1m as well as a further £8m to pay unsecured creditors.
PwC also said that had administrators been officially appointed May 6, Blackburn-headquartered EG Group’s offer would have been accepted.
READ MORE: Retail expert warns more brands may collapse after McColl's rescued by Morrisons
Morrisons confirmed a deal to rescue McColl's and save all 16,000 jobs on Monday, May 9, after the retailer entered administration.
The supermarket giant had been given more time to up its bid over the weekend as PwC was only officially appointed on Monday, May 9.
Both Morrisons and Eg Group submitted their final offers by 6.30pm on Sunday, May 8.
PwC said that four credible bidders had emerged for McColl’s but that was narrowed down to three by the time shares in the group were suspended.
The PwC documents said: "Any buyer would need to have the capacity to supply the entire store estate, possibly in a short space of time. All parties realistically capable of doing this had already been approached."
