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Manchester Evening News
Manchester Evening News
World
Jon Robinson

All 16,000 McColl's jobs saved as Morrisons agrees rescue deal

McColl Morrisons EG Group Issa EG Morrisons Daily Asda McColls Tesco

Morrisons is to rescue collapsed retailer McColl's after the supermarket giant beat a rival bid from the billionaire owners of Asda, BusinessLive understands.

The convenience chain signalled its intension to file for administration on Friday in a move which plunged the future of its 1,100 shops and 16,000 staff into doubt. Final bids were submitted ahead of the 6pm deadline on Sunday by EG Group, the retail giant owned by the Issa brothers and TDR Capital, and Morrisons.

The offer from Blackburn-headquartered EG Group, whose brands also include LEON, Cooplands and Euro Garages, included keeping 16,000 jobs and all of McColl's stores open.

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