Financial Advisor
McColl’s Retail Group plc
Capital Solutions
Restructuring advice and sale of business and assets to Morrisons
Transaction Details
- On 9 May 2022, McColl’s Retail Group plc (“McColl’s”, the “Group”, or the “Company”) completed a sale of the business and assets of the group to Alliance Property Holdings Limited, part of the Morrisons Group (“Morrisons”), via an administration sale
- Founded in 1901, McColl’s operates a chain of more than 1,100 convenience retail stores and newsagents across the UK. The majority of stores trade under the McColl’s brand, alongside 270 Morrisons Daily concessions under an agreement with Morrisons
- The Group had faced financial pressure over recent years resulting from COVID-19 related disruption and, most recently, supply chain challenges, creating issues in product availability. The Company was placed into administration to protect creditors, preserve the future of the business and protect the interests of employees
- 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
About the company
McColl’s Retail Group plc
McColl’s is a leading neighbourhood retailer, with an estate of over 1,100 managed convenience stores and newsagents. The Group operates McColl’s and Morrisons Daily branded convenience stores as well as newsagents branded Martin’s across the UK, except in Scotland where it operates under its heritage brand RS McColl
WM Morrison Supermarkets
Morrisons began as a Bradford market stall in 1899 and has grown to become the UK’s fourth largest supermarket chain, employing over 110,000 colleagues across the UK
Sources: Company Filings and Press Release.
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