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Manchester Evening News
Manchester Evening News
National
Jonathon Manning

What happens next as McColls collapses into administration

McColl Asda Morrisons

Thousands of jobs are at risk after convenience store chain McColl's collapsed into administration. More than 16,000 are employed by the chain and their future is uncertain while the business owners rush to save the company.

The firm confirmed on Friday afternoon, May 6, that it has appointed administrators from PriceWaterhouseCooper. News services are reporting that both Morrisons and Asda have both put in bids to try and buy McColl's, which could mean that the company remains a fixture on UK high streets.

Administration is a process used to try and save a business when it can no longer afford to operate. The process takes the power away from the directors of the company and instead into the hands of a professional insolvency practitioner.

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