Brief: Smiths News Says McColl's Represents Bad Debt Risk To Co Of £6-7 Mln

MccollS Retail

06/05/2022 14:49

May 6 (Reuters) - Smiths News PLC  SNWS.L :
    * SMITHS NEWS PLC - NOTES CONFIRMATION BY MCCOLL'S RETAIL
GROUP
PLC ("MCCOLL'S) TODAY THAT IT HAS ENTERED ADMINISTRATION
    * SMITHS NEWS PLC - SMITHS NEWS SERVES APPROXIMATELY 600
MCCOLL'S
STORES
    * SMITHS NEWS PLC - AT THIS TIME, MCCOLL'S REPRESENTS A BAD
DEBT
RISK TO COMPANY OF £6-7M, WITH £1.2M BEING OVERDUE
    * SMITHS NEWS PLC: COMPANY CONFIRMS THAT ITS BANKING
COVENANTS
WILL NOT BE IMPACTED BY THIS NEWS.
    * SMITHS NEWS PLC: COMPANY IS CLOSELY MONITORING CURRENT
SITUATION
AND CONSIDERING OPTIONS FOR REDUCING CURRENT RISK
    * SMITHS NEWS PLC - CONFIRMS THAT ITS BANKING COVENANTS WILL
NOT
BE IMPACTED BY MCCOLL'S NEWS

Source text for Eikon:  ID:nRSF6621Ka 
Further company coverage:  SNWS.L 

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