One of the "UK's leading community retailers" McColl’s has confirmed it is on the verge of falling into administration. The retailer has been in discussions with potential lenders to shore up the business, which struggled badly during the pandemic due to supply chain issues, inflation and a heavy debt burden.
Nottingham jobs could be at risk as a result, with 16,000 roles across the country potentially on the line. The convenience store chain has at least 15 shops in Nottinghamshire, according to its website.
McColl's, which has an extensive partnership with major supermarket Morrisons, reiterated that it remained in talks on potential financing solutions to resolve short-term funding issues and create a stable platform for the business. It said that unless those talks are successful, it is “increasingly likely that the group would be placed into administration”. The business has some 16,000 employees, the majority of whom are part-time, a spokesman said.
