Morrisons has secured McColl’s Retail Group, taking on its 16,000 staff and over 1100 stores. Morrisons was the largest supplier to the group. McColl’s had operated a number of Morrisons Daily stores.
Joint administrators Toby Banfield, Rob Lewis and Rachael Wilkinson of PwC negotiated the sale of the group to Alliance Property Holdings Ltd., part of the Morrisons Group. McColl’s Retail Group plc, which includes Martin McColl Ltd., Clark Retail Ltd., Dillons Stores Ltd., Smile Stores Ltd., Martin Retail Group Ltd., and Charnwait Management Ltd.
PwC said that McColl’s had been impacted by mixed trading performance in March and April with reduced customer spending and continued supply chain disruption.
Rob Lewis joint administrator said: “As well as savings thousands of jobs, this deal secures a platform for the trustees of the group’s pension schemes to enter into arrangements which will protect the pension entitlements of so many people.”