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Birmingham Post
Birmingham Post
Business
Jon Robinson

Issa brothers missed out on rescuing McColl's despite submitting higher offer than winning £190m bid from Morrisons

Issa McColl Morrisons PwC EG Group

The billionaire Issa brothers missed out on buying McColl's despite submitting an offer higher than the £190.1m winning bid from Morrisons.

New documents produced by administrators PwC have revealed that the supermarket’s rescue package for the convenience retailer was £182.1m as well as a further £8m to pay unsecured creditors.

PwC also said that had administrators been officially appointed May 6, Blackburn-headquartered EG Group’s offer would have been accepted.

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