McColl's enters administration

General Chat
#1

Just saw this :broken_heart:

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#2

How unfortunate for McColls…

#3

To be fair, I don’t think I’ve ever seen a busy McColls and the one I used to live near hardly ever had anything fresh in.

Someone will sweep up some of the stores for their own, either Tesco or Coop. Morrisons local also wouldn’t go a miss.

#4

Who were McColls? :man_shrugging:

I wonder if thats why they went into administration.

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#5

Morrisons offered a deal to buy them, but it would have meant the banks discounting their loans by more than they were prepared to.

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#6

Primarily Scottish, which might explain your lack of exposure to them

I never see them these days on account of being on the South coast, but used to see them a lot in Edinburgh when visiting family

They are a bit in danger in being one of those chains that folk miss, but don’t actually shop in a la Woolworths

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#7

Some of them actually are Morrisons Locals already, we’ve got a few in this area. I’m going to assume Morrisons will just be like yeah we’ll buy those stores from you. Just depends how they all get packaged up/ dealt with by the administrator and any new buyers.

Plus they supply most the other stores

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#8

Looks like from reports that Morrisons have bought them out of administration

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#9

My local one has a Post Office in it, I wonder what will happen to that.

#10

Would imagine if the shop stays open, it’ll stay there with it. Still no details as yet as to whether they’ll have to close x amount of shops due to competition laws etc etc.

#11

A somewhat uneducated guess, but I doubt this will be a problem because Morrisons don’t have any local stores, except the McColl’s ones which are branded as Morrisons Daily and would be included in the deal anyway. So there wouldn’t be a big overlap of stores or anything which may be seen as anti-competitive.

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#12

Same.

It’s been a Morrisons Daily for well over a year now, so shouldn’t be an issue, I suspect.

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#13

The local McColls is just a random small newsagent which I’m surprised makes much profit these days… not sure how much it’s a fit for Morrisons but since they have no presence around here they’ll probably turn it into a morrisons local.

#14

The man on ITN news said that around 460 McColls will be rebranded, but Morrisons hadn’t said what would happen to the rest.

I suspect that there will be closures as Morrisons have had to increase their offer so that the banks got their money back.

#15

Morrisons not bringing the pension fund out of administration as far as I have heard

Seems the best that can be managed legally is to implore them to do so with no mandate. A dubious feature of the administration process

#16

Most articles state similar to this, I’ve not come across anything different yet, but I’ve not read every article going :rofl:

The deal successfully transfers all 16,000 staff, 1,100 shops across the UK and also includes Morrisons agreeing to rescue the group’s two pension schemes which have more than 2,000 members.

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#17

I realise I’m replying to myself :sweat_smile: but details now through that the deal will be investigated.

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