Morrisons shoppers will be pleased to hear the supermarket chain has officially slashed the minimum spend requirement on click and collect orders.
Morrisons announces it will buy McColl's after company goes into administration
09.05.2022 - 20:27 / manchestereveningnews.co.uk
Morrisons has announced it will buy McColl's in a move that will save as many as 16,000 jobs. McColl's confirmed last week that it has been forced to go into administration, which would see mass job losses and store closures.
The chain of convenience stores has more 1,100 branches across England, Scotland and Wales. It employs around 16,000 staff of which roughly 6,000 are full-time employees.
The company said that it had to go into administration last week. It confirmed that the decision was made "to preserve the future of the business and to protect the interests of employees", The Mirror reports.
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However, following talks over the weekend, supermarket giant Morrisons has said it will purchase the company. The price of the purchase has not been disclosed.
Morrisons has also said it will protect the pensions of McColl's employees. Hundreds of stores are already run by Morrisons, which are rebranded as Morrisons Daily.
It's also a major supplier to McColl's, and provides products under the Safeway brand. The supermarket saw off competition from the EG Group to buy McColl's.
The EG Group is owned by the billionaire Issa brothers, who own Asda. Professional services firm PwC is handling the administration and is expected to make a formal announcement about the rescue deal today.
Morrisons is buying McColl's as a pre-pack administration and will acquire the chain as soon as it enters insolvency proceedings today. As well as McColl's stores, the company also runs Martin's newsagents.
The firm has 755 McColl's stores, 270 called Morrisons Daily, 116 Martin's and eight called RS McColl, the latter all in Scotland. It has Post
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