British retailer McColl's boss Jonathan Miller steps down amid financial woes (updated)

MccollS Retail

24/03/2022 08:22

(Adds details and background)
    March 24 (Reuters) - Britain's McColl's  MCLSM.L  said on
Thursday Chief Executive Officer Jonathan Miller had stepped
down, weeks after the struggling convenience store chain warned
of lower annual profit, sending its shares down 14%.
    Miller's exit comes at a time when the group is in talks
with lenders over new funding options.  urn:newsml:reuters.com:*:nL4N2V32MS
    McColl's has been grappling with supply chain issues that
hit product availability in its stores, and the company's
first-quarter results were weighed by a surge of Omicron cases
that hurt its store footfall in Britain. 
    A Sky News report on Tuesday said McColl's parent
supermarket group Morrisons is considering options on how to
deal with the financial struggles of the company  urn:newsml:reuters.com:*:nL3N2VP3RB
    Shares of McColl's lost more than half their value in 2021.
    
    
        
    
    

 (Reporting by Muhammed Husain in Bengaluru; Editing by
Subhranshu Sahu and Amy Caren Daniel)
 ((Muhammed.Husain@thomsonreuters.com;))