UK's Morrisons weighs options for convenience store partner McColl's - Sky News

MccollS Retail

22/03/2022 18:55

March 22 (Reuters) - Privately owned British supermarket
group Morrisons is considering options on how to deal with the
financial struggles of its convenience store partner McColl's
Retail Group Plc  MCLSM.L , Sky News reported on Tuesday. 
    Morrisons has appointed investment bank Houlihan Lokey to
explore options for its exposure to McColl's, the report https://news.sky.com/story/morrisons-weighs-options-for-struggling-convenience-store-group-mccolls-12572903
 added. 
    McColl's last month issued a profit warning and said it was
looking at new funding options after an unnamed party withdrew
its takeover approach to buy the company.  urn:newsml:reuters.com:*:nL4N2V32MS
    London-listed McColl's has been negotiating with lenders
since last year and had said it was in talks with banks for a
longer-term agreement to secure more funding. 
    McColl's and Morrisons did not immediately respond to
Reuters requests for comments. 

 (Reporting by Amna Karimi in Bengaluru; Editing by Shailesh
Kuber)
 ((Amna.Karimi@thomsonreuters.com; +91 8083261226))