Newsagent chain McColl's collapses with Derbyshire staff at risk – but Asda co-owners may yet rescue company
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McColl's, which has over 1,300 stores in the UK, is reported to have appointed administrators after an unsuccessful search for a new buyer.
The company has 10 stores in Derbyshire, and also operates more than 200 outlets nationwide that trade under the Morrisons Daily brand.
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Hide AdMcColl's said it took the decision to appoint PwC as administrator after its lenders objected to the potential outcome of a sale for them, as reported by Sky News.
EG Group, the petrol stations company run by Asda co-owners Mohsin and Zuber Issa, is reported to be considering a rescue deal. It is hoped that a sale out of administration would preserve the vast majority of its workforce and store estate.
Millions of pounds of McColl’s debt was sold to hedge funds over recent days, and they entered administration despite a cash call from shareholders that raised £30m just six months ago.
If McColl's is not rescued, it would be the largest retail collapse since the Edinburgh Woollen Mill Group in 2020 and Debenhams, which employed about 12,000 people, in that same year.
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Hide AdFull list of McColl’s and Morrisons Daily stores in Derbyshire:
LOUNDSLEY GREEN, DERBYSHIRE, CHESTERFIELD, S40 4RA
NEW TUPTON, DERBYSHIRE, CHESTERFIELD, S42 6EF
GREEN LANE, DERBYSHIRE, DRONFIELD, S18 2LJ
CLOWNE, DERBYSHIRE, CHESTERFIELD, S43 4JN
DERBYSHIRE, BELPER, DE56 1LW
DERBYSHIRE, ILKESTON, DE7 4AD
DERBYSHIRE, BUXTON, SK17 6EF
DERBYSHIRE, BUXTON, SK17 6BP
DERBYSHIRE, BUXTON, SK17 7PU
WHALEY BRIDGE, DERBYSHIRE, HIGH PEAK, SK23 7LP
MORRISONS DAILY MATLOCK GREEN, MATLOCK, DERBYSHIRE, DE4 3BT
MORRISONS DAILY RIVERSIDE, DERBY RD, DE56 2EJ
MORRISONS DAILY CHESTERFIELD, 1 NETHERMOOR RD, S42 6EF
MORRISONS DAILY METEOR, 2-4 ALFRETON ROAD, DE55 2AS
MORRISONS DAILY HARVEY RD SERVICE STATION, DE24 8JZ