Thursday, February 2, 2023

Lincolnshire to lose several McColl’s stores after Morrisons’ closure decision

Morrisons have revealed plans to close 132 unprofitable McColl’s stores across the country just a short time after receiving the green light from competition regulators on the multi million buyout of the troubled convenience store group.

The decision is expected to affect around six Lincolnshire McColl stores.

The Bradford based supermarket giant acquired the troubled chain for £190 million back in May, fending off a rival offer at that time from Asda.

Competition regulators gave the green light for the takeover last week following which Morrisons unveiled their closure plans.

Morrisons said, that whist 132 stores have no realistic prospect of achieving a breakeven position, it does expect some McColl’s stores to return to profitability as part of its turnaround plans.

The majority of the closures are due to take place this year, and 55 of the stores that include a Post Office counter will close in the coming year.

Morrisons said every affected worker would be offered alternative employment at a nearby McColl’s store, Morrisons store, logistics operation or foodmaking centre.

Joseph Sutton, Morrisons convenience, online and wholesale director, said: “We have a great deal of work to do but there’s no question that McColl’s is a business with strong potential.

“I’m confident that the combination of McColl’s conveniently located stores and great colleagues together with Morrisons scale, brand, systems and fresh food expertise will lead to a transformation of the business.

“We very much regret the proposed closure of 132 loss-making stores but it is, very sadly, an important step towards the regeneration of the business.

“I am confident that McColl’s can, in the Morrisons family, once again become a growing, thriving and vibrant convenience business serving local communities across the UK.”

Last month, the UK competition regulator paved the way for the clearance of Morrisons £190m rescue deal on the condition it sold 28 McColl’s stores in 35 areas where the two retailers compete.

All 16,000 McColl’s staff were transferred to Morrisons as part of the deal.

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