Brief: McColl's Retail Group Confirms It Remains In Ongoing Discussions With Its Lending Banks

MccollS Retail

28/02/2022 08:18

Feb 28 (Reuters) - McColl's Retail Group PLC  MCLSM.L :
    * MCCOLL'S RETAIL GRP  - RESPONSE TO MEDIA SPECULATION
    * MCCOLL'S RETAIL GROUP PLC: CONFIRMS IT REMAINS IN ONGOING
DISCUSSIONS WITH ITS LENDING BANKS
    * MCCOLL'S RETAIL GROUP PLC: GROUP HAS RECEIVED NECESSARY
AGREEMENT TO ROLL FORWARD ITS FINANCIAL COVENANT TEST
PERIODICALLY
    * MCCOLL'S RETAIL GROUP PLC: CONTINUES TO RECEIVE CREDIT
SUPPORT
FROM ITS KEY COMMERCIAL PARTNER TO ENABLE THESE DISCUSSIONS
    * MCCOLL'S RETAIL GROUP PLC: CONTINUES TO BELIEVE THAT A
FINANCING
SOLUTION WILL BE FOUND THAT INVOLVES ITS EXISTING PARTNERS AND
STAKEHOLDERS
    * MCCOLL'S RETAIL GROUP PLC: MORRISONS DAILY STORE ROLLOUT
IN FY21
AND FY22 IS ON TRACK
    * MCCOLL'S RETAIL GROUP PLC: TRADING SHORTFALL IN SECOND
HALF OF
FY21 HAS ABSORBED HEADROOM
    * MCCOLL'S RETAIL GROUP PLC: FINANCIAL RESULTS FOR 52-WEEK
PERIOD
ENDED 28 NOVEMBER 2021 WERE IN LINE WITH PREVIOUS GUIDANCE
    * MCCOLL'S RETAIL GROUP PLC: SINCE START OF NEW FINANCIAL
YEAR,
THERE HAS BEEN A TANGIBLE IMPROVEMENT OF PRODUCT AVAILABILITY IN
STORES.
    * MCCOLL'S : BUSINESS SAW A MATERIAL STEP-DOWN IN FOOTFALL
DUE TO
SURGE IN COVID-19 CASES RELATING TO OMICRON, PARTICULARLY OVER
CHRISTMAS
    * MCCOLL'S RETAIL GROUP PLC: WHILE DEMAND HAS SINCE PICKED
UP,
REVENUES IN Q1 ARE BEHIND EXPECTATIONS.
    * MCCOLL'S RETAIL GROUP PLC: GROUP DELIVERED TWO-YEAR
LIKE-FOR-LIKE SALES GROWTH OF 5.9% IN 11 WEEKS TO 13 FEBRUARY
2022
    * MCCOLL'S RETAIL GROUP PLC: GROUP IS STARTING TO EXPERIENCE
STRENGTHENING MARGIN AS IMPULSE PRODUCT SALES RECOVER
    * MCCOLL'S RETAIL GROUP PLC: GROUP REMAINS ON TRACK TO
COMPLETE
450 MORRISONS DAILY STORE CONVERSIONS BY END OF FY22
    * MCCOLL'S RETAIL GROUP PLC: BOARD NOW EXPECTS FY22 ADJUSTED
EBITDA TO BE SLIGHTLY BEHIND CURRENT MARKET EXPECTATIONS
    * MCCOLL'S - CONFIRMS THAT IT RECENTLY RECEIVED AN APPROACH
FOR
WHOLE BUSINESS, WHICH HAS SUBSEQUENTLY BEEN WITHDRAWN
    * MCCOLL'S - THERE ARE NO FURTHER DISCUSSIONS WITH THAT
PARTY OR
ANY OTHER PARTY IN RELATION TO AN OFFER FOR WHOLE BUSINESS
    * MCCOLL'S RETAIL GROUP PLC - HAS RECEIVED INDICATIONS OF
INTEREST
FOR PARTS OF BUSINESS; BOARD WILL CONSIDER ALL OPTIONS

Source text for Eikon:  ID:nRSb9459Ca 
Further company coverage:  MCLSM.L 

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