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
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Middleton to receive a cinema and Metrolink as part of regeneration plans
Thomas Melia
Greater Manchester town Middleton is about to undergo a huge facelift thanks to a new regeneration project, including a new cinema and Metrolink tram station.
Middleton is one of many bustling communities that make up the borough of Rochdale, and with these new plans, the town might receive a fair few new visitors who want to know what it’s all about.
The Greater Manchester town is undergoing a huge transformation with regeneration plans confirming that Middleton will receive a brand new cinema complex along with an extended Metrolink line as part of the Bee Network expansion covering this area.
This is all thanks to Middleton teaming up with the Mayor to launch the Mayoral Development Corporation (MDC), which pushes forward regeneration plans for the town and future ideas.
Middleton Shopping Centre right in the heart of the town centre.Middleton Town Centre bustling as the markets take place.Credit: Steven Haslington (via Geograph)/@Rept0n1x (via Flickr)
The MDC considers lots of aspects of the town and even aims to create new homes and improve surrounding public spaces.
Middleton regeneration plans have been floated previously, but complications arose due to a lack of land and available funding, which ultimately brought these foundations to a halt.
Now it seems the green light has been lifted and Middleton is about to get a whole new facelift, which will not only improve the town economically but aesthetically too, along with the wider Rochdale region.
For many Middletonians, the idea of a cinema may have felt like a distant memory, with their last big screen location shutting down just over a decade ago.
This all-new high street regeneration will not only bring an array of shopping favourites back to the town centre but also the long-awaited return of a local cinema. Most importantly, the plans also include a slate of new housing, with an estimated 300 apartments set to be created in one building alone.
Early CGIs of the proposed Middleton regeneration plans.Grade II-listed Warwick Mill looks set to be turned into flats.Credit: Publicity Picture (supplied)
This all falls in line with the ‘Atom Valley scheme‘, which has been commissioned in order to generate over 20,000 job opportunities for people in Bury, Oldham and Rochdale.
The scheme also mentions how it aims to bring a combined economic boost of around £1 billion to these previously mentioned areas.
Rochdale Borough Council leader, Neil Emmott, said: “The development of 1.2 million square metres of employment space around the junction 19 area will help to generate 20,000 high-quality jobs and bring a £1 billion economic boost.”
Featured Image — Publicity Pictures (supplied via Rochdale Borough Council)
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Scouting For Girls announce stacked UK tour with Manchester date
Thomas Melia
British boyband Scouting For Girls are heading out on an extensive UK tour with dates up and down the country, including right here in Manchester.
If the first thing that pops into your mind when you read this headline is “I don’t know, I don’t know, I don’t know how we’ll make it through this”, then you’re on the right side of history.
Nearly 20 years since their single ‘She’s So Lovely’ reached catastrophic heights and had everyone putting on their best Roy Stride accent, Scouting For Girls are heading back on the road.
This UK tour announcement comes two years after their last project, The Place We Used To Meet, reached our ears and was coined by the band as “Our best work since our debut”.
It’s been 18 years since this Brit trio captivated our hearts with their eponymous debut album, which sold over one million copies and went number one on the UK official charts for two weeks.
Whether you know them for ‘Heartbeat’ or ‘Elvis Ain’t Dead’, it’s clear to say this band had their fair share of smash hit singles throughout the noughties.
This tour, however, celebrates the sophomore follow-up: Everybody Wants To Be On TV, which went on to continue their legacy and secure them their only number one, ‘This Ain’t A Love Song’, back in 2010.
Now, the boys are treating UK fans to an array of live performances, and if you can’t make one date, fear not because there are 20 different locations for you to choose from.
The group will also be playing the likes of Leeds, Sheffield, Newcastle and a whole host of other Northern cities, so you have plenty of chances to catch them.
If you can’t wait all the way until March 2026 for your next Scouting For Girls fix, lead singer Stride has his own cameo account where you can get the star to read out a message or even sing you a song: “‘Michaela Strachan’ in full, please?…”
Scouting For Girls are coming to O2 Apollo in Manchester on 21 March 2026, with tickets going on sale next Friday, 2 May at 10am HERE.
Emily Sergeant -
6th May 2022 
