British convenience chain McColl's collapses

MccollS Retail

06/05/2022 13:06

May 6 (Reuters) - British convenience store chain McColl's
 MCLSM.L  said on Friday it had been placed under administration
of accounting and consulting firm PriceWaterhouseCoopers, as it
failed to get short-term funding from lenders to stay afloat.
    The news follows a report the cash-strapped firm was offered
a last-minute deal by Morrisons, Britain's fourth-largest
supermarket group, to avert the administration and save the vast
majority of its stores and jobs.     
    

 (Reporting by Pushkala Aripaka in Bengaluru; Editing by Krishna
Chandra Eluri)
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