Britain's McColl extends plunge amid funding quest

MccollS Retail

02/03/2022 10:33

** Shares of convenience store chain  MCLSM.L  fall for
third consecutive day, losing as much 40% to a record low of
1.2p 
    ** The British retailer said on Monday it was looking at new
funding options and issued a profit warning  urn:newsml:reuters.com:*:nL4N2V32MS
    ** MCLSM, which operates 1,100 stores, had raised 30 mln
pounds ($39.88 mln) in August 2021 from shareholders in a cash
call 
    ** McColl's stock dropped ~54% in 2021
    ** At session lows on Wednesday, McColl's market cap stood
at 3.4 mln pounds, vs peak valuation of 829.7 mln pounds in 2017
    ($1 = 0.7523 pounds)

 (Reporting by Sinchita Mitra in Bengaluru)
 ((Sinchita.mitra@thomsonreuters.com))