One of Britain’s largest convenience store chains is nearing the brink of collapse, with thousands of jobs said to be at risk.
McColl’s – which employs more than 16,000 people, and has several stores throughout Greater Manchester and the North West – said it was “increasingly likely” that it would fall into administration unless talks around a rescue deal were successful, Sky News reports.
The 1,400-store McColl’s Group – which has an extensive wholesale partnership with Morrisons, as well as Martin’s newsagents – has always had strategy centred around an image of a “neighbourhood retailer”, but after suffering unprecedented difficulties throughout and post the COVID-19 pandemic, has issued a statement saying administrators could be called in today.
The company said in its statement that without any fresh funding in the short-term, the group would likely “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”.
The chain added that it wanted to create a “stable platform for the business going forward”, but also stressed that discussions were still ongoing.
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McColl’s said it was “increasingly likely” that would fall into administration / Credit: McColl’s
McColl’s said in a statement to Sky News: “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.
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“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.”
According to Sky News, the company’s imminent collapse is expected to spark renewed interest in a partial takeover from both Morrison’s and EG Group – the petrol retailing giant owned by TDR Capital and the billionaire Blackburn-based brothers, Mohsin and Zuber Issa.
McColl’s employs more than 16,000 people at 1,400 stores across the UK / Credit: McColl’s
News that the McColl’s is teetering on the brink of collapse this week comes after it was revealed that the group’s shares have collapsed this year, and the entire company is now worth less than £3.5 million, with the company said to be carrying debts of almost £170 million.
Jonathan Miller, McColl’s recently-departed chief executive, said in December 2021 that the financial year had “undoubtedly been a tough year for the business”.
Mr Miller is understood to have personally invested £3 million last year in a bid to convince other shareholders to support the company.
If McColl’s is forced into administration this week, it would be the largest insolvency in the UK retail sector by size of workforce since the collapse of Edinburgh Woollen Mill Group in 2020, Sky News said.
It would become the latest in a long line of casualties of changing retail shopping habits and the pandemic.
Featured Image – McColl’s
News
Kevin De Bruyne confirms he is leaving Manchester City
Danny Jones
One of the Premier League’s best-ever players and a true Manchester City legend, Kevin De Bruyne, has confirmed he will soon be leaving the club.
Announced in a series of emotional social media posts on Friday, 4 April, the brilliant Belgian footballer will be calling time on his career at the Etihad Stadium come the end of this season.
Having spent a decade in the iconic blue of Man City, De Bruyne will undoubtedly go down as one of their all-time greats, having helped them to their first Champions League trophy during the Treble-winning year and a record four consecutive Premier League titles – of which he’s won six in total.
As you can see in the lengthy message shared on his social media, ‘King Kev’ informed City supporters that this current campaign will be his last in their colours, writing: “Every story comes to an end, but this has definitely been the best chapter.”
The 33-year-old, who has suffered from increasing injury problems over the last couple of years, goes on to say that “Nothing about this is easy to write, but as football players we all know this day eventually come. That day is here – and you deserve to hear it from me first.”
In what is clearly a heartfelt and just as difficult a post for him to write as it is for fans to hear, he added: Football led me to all of you – and this city […] This will always be our HOME.”
Blues all over Greater Manchester and beyond will be heartbroken, but many won’t be completely shocked given his in-and-out
It’s a sad day to be a Cityzen, no doubt.
Speaking in the pre-match press conference ahead of the Manchester derby, manager Pep Guardiola said: “In the Premier League, he is one of the greatest midfielders in this country and top of the Club. Great, if not the greatest.
Manchester City will bid an emotional farewell to Kevin De Bruyne this summer when his contract expires, bringing an end to a glittering 10-year period at the Club 🩵
Although his talent will never come into question, it’s no secret that he’s struggled to stay fit and be as prolific a creator in Guardiola‘s side – though this is largely in contrast to his ridiculously high levels and just how much of a talisman he has been over the past 10 years.
Starting just 19 matches this season, he’s still managed to score four goals and register seven assists, but a recurring hamstring problem has seen game time limited.
Regardless, when he’s at his best, there’s no question about it: he’s the best player in the Premier League, and the club have promised to pay fitting tributes to their generational number 17.
With 106 goals to his name in 413 appearances – the first midfielder since Colin Bell to reach over a century – across all competitions for City, not to mention 118 assists in the Premier League alone, he’s been one of the most creative and, frankly, ingenious players on the planet for more than a decade.
Whether you’re a Blue, a Red or otherwise, no one can deny the joy of watching him play football. Thanks for the memories, KdB.
Featured Images — Brad Tutterow (via Flickr)/soccer.ru (via WikiCommons) Kevin De Bruyne (via X)
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Prestwich’s regeneration plans take another step forward
Danny Jones
The regeneration plans being put forward for Prestwich have taken another step forward as a construction company has new been appointed to bring the vision of a new village centre to life.
With full planning permission for phase one of the redevelopment granted back in July 2024, it’s been pretty much full speed ahead on lining up one of Greater Manchester’s latest regeneration projects and adding more to what is already one of its best up-and-coming suburbs.
Prestwich Village Regeneration LLP are pumping over £100 million into developing the main square, and with Chroma Consulting having now passed on the baton to those erecting this new-look town centre, the joint venture between Bury Council and national ‘place maker’ Muse, work can soon begin.
You can see one of the first early renders down below:
CGIs of the new space around the Longfield Centre. (Credit: Supplied)
VINCI Building were officially appointed as construction partners last month, and with enabling works (surveys, ground investigations and so forth) now complete, the contractors are expected to get underway soon.
Additions to the vibrant new village centre will include a multi-storey Travel Hub, which will also see 301 new parking spaces, along with electric vehicle charging points, cycle storage and a car club. This will replace the Fairfax Road car park, which closed when the early stage began last December.
Beyond this, the Prestwich regeneration plans are set to include a community hub, library and flexible community space for arts and cultural events, a new Prestwich Health Centre; a fresh village square with ‘family-friendly social places’ and room for open-air markets, festivals and more.
A dedicated Prestwich Village Market hall will be the perfect place to house local retailers as well as food and drink vendors, not to mention a much better entry point into the village courtesy of plans to transform the “arrival experience from the tram” by integrating with surrounding green spaces.
Speaking of which, there will also be extensive landscaping in and around the village centre, with the existing fountain set to be removed and new public art installations created in its place.
A glimpse at the new Prestwich Village Market.An overview of all three phases.Credit: Supplied
Beyond the public spaces, over 200 new homes – which made up a big part of the initial application – are also included in the wider vision, with a mix of affordable housing and FTB (first-time buyers) properties.
Leader of Bury Council, Eamonn O’Brien, said of the latest developments: “We are thrilled to announce the next stage in this multi-million pound transformational regeneration scheme, which marks a significant step towards revitalising the heart of Prestwich Village and creating a vibrant, sustainable future for all.
“As well as enhancing local infrastructure, our ambitious plans will foster economic growth and improve the quality of life for the whole community.” A final completion date is yet to be confirmed, but work on the Travel Hub specifically is set to carry over into next year.
Exciting times are ahead for Prestwich. It’s not the only borough making plans for the next chapter and set for a bit of TLC.
Emily Sergeant -
6th May 2022 
