UK supermarket major Morrisons proposes McColl's rescue deal - Sky News

MccollS Retail

06/05/2022 09:08

May 6 (Reuters) - British supermarket major Morrisons has
proposed a rescue deal to help avert the collapse of convenience
store chain McColl's  MCLSM.L , a Sky News reported on Friday, a
day after McColl's warned of possibly being placed under
administration.
    The report said https://news.sky.com/story/morrisons-pitches-last-ditch-rescue-deal-for-ailing-convenience-retailer-mccolls-12606452
 the proposal from Morrisons, which has an extensive partnership
with McColl's, would see it repaying the latter's lenders in
full and preserving the vast majority of its shops and jobs.
    Morrisons declined to comment and McColl's did not
immediately respond to a Reuters request for comment.

 (Reporting by Pushkala Aripaka and Amna Karimi in Bengaluru and
James Davey in London; editing by Uttaresh.V)
 ((Pushkala.A@thomsonreuters.com; Twitter: @pullthekart; Mobile:
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