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Birmingham Post
Birmingham Post
Business
Hannah Baker

Smiths News 'considers options' amid McColl's administration

McColl Swindon

The UK's biggest newspaper and magazine wholesaler has said it is considering its options following the collapse of convenience store chain McColl's last week.

Swindon-based Smiths News serves around 600 McColl's stores. It said McColl's represented a "bad debt risk" to the company of £6-7m, with £1.2m of that overdue. It confirmed its banking covenants would not be impacted by the news.

"The company is closely monitoring the current situation and considering options for reducing the current risk, including the return of unsold stock," Smiths News said in a statement.

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