More than 100 convenience stores in the UK are set to close putting around 1,300 jobs at risk. It comes after supermarket giant Morrisons bought the McColl's retail chain in a £190 million rescue deal in May earlier this year.
The company has now revealed proposals to shut down 132 loss-making stores across the country, saying that there is "no realistic prospect of achieving a breakeven position in the medium term" at the branches.
Morrisons, which itself was bought in a £7 billion deal last year, said all 1,300 workers at risk from the closure plans will be offered roles elsewhere in the company. Joseph Sutton, Morrisons’ convenience, online and wholesale director, said: “We have a great deal of work to do but there’s no question that McColl’s is a business with strong potential. I’m confident that the combination of McColl’s conveniently located stores and great colleagues, together with Morrisons scale, brand, systems and fresh food expertise, will lead to a transformation of the business."
