Brief: Mccoll's Retail Group Appoints PwC As Administrators

MccollS Retail

06/05/2022 13:07

May 6 (Reuters) - McColl's Retail Group PLC  MCLSM.L :
    * MCCOLL'S RETAIL GRP  - ADMINISTRATOR APPOINTMENT AND SHARE
SUSPENSION
    * MCCOLL'S RETAIL GROUP PLC: APPOINTING
PRICEWATERHOUSECOOPERS LLP
AS ADMINISTRATORS
    * MCCOLL'S RETAIL GROUP PLC - GROUP HAS REQUESTED THAT
LISTING OF
ITS ORDINARY SHARES BE SUSPENDED WITH IMMEDIATE EFFECT.
    * MCCOLL'S RETAIL GROUP PLC - COMPANY'S SENIOR LENDERS HAVE
THIS
MORNING DECLINED TO FURTHER EXTEND WAIVER OF COMPANY'S BANKING
COVENANTS, WHICH HAS NOW EXPIRED
    * MCCOLL'S RETAIL GROUP PLC: LENDERS MADE CLEAR THAT THEY
WERE NOT
SATISFIED THAT DISCUSSIONS WOULD REACH AN OUTCOME ACCEPTABLE TO
THEM
    * MCCOLL'S RETAIL: APPOINTING ADMINISTRATORS, IN EXPECTATION
THAT
THEY INTEND TO IMPLEMENT SALE OF BUSINESS TO A THIRD-PARTY
PURCHASER SOON AS POSSIBLE

Source text for Eikon:  ID:nRSF6543Ka 
Further company coverage:  MCLSM.L 

 ((Reuters.Briefs@thomsonreuters.com;))