REG - McColl's Retail Grp - Response to press speculation

Mccoll'S RetailAnnouncement

05/05/2022 17:45

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RNS Number : 5279K  McColl's Retail Group plc  05 May 2022

5 May 2022

McColl's Retail Group plc

Response to press speculation

McColl's Retail Group ("McColl's" or "the Group"), the UK's leading community
retailer, notes recent press speculation regarding the Group.

As previously disclosed on 25 April 2022, the Group remains in discussions
regarding  potential financing solutions for the business to resolve short
term funding issues and create a stable platform for the business going
forward.

However, whilst no decision has yet been made, McColl's confirms that unless
an alternative solution can be agreed in the short term, it is increasingly
likely that the Group would be placed into administration with the objective
of achieving a sale of the Group to a third-party purchaser and securing the
interests of creditors and employees. Even if a successful outcome is
achieved, it is likely to result in little or no value being attributed to the
Group's ordinary shares.

A further update will be made as and when appropriate.

 

Enquiries

 Analyst & Investors:      Tej Randhawa, McColl's  +44 (0)1277 372916

 Media:                    Ed Young, Headland      +44 (0)203 805 4822

                           Rob Walker, Headland    mccolls@headlandconsultancy.com

 

About McColl's Retail Group

McColl's is a leading neighbourhood retailer, with an estate of over 1,100
managed convenience stores and newsagents. We operate McColl's and Morrisons
Daily branded convenience stores as well as newsagents branded Martin's across
the UK, except in Scotland where we operate under our heritage brand, RS
McColl.

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