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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Pat Regan at the Fairfield Social Club – a brilliantly unhinged evening of standup comedy
Clementine Hall
There’s a particular kind of chaos that only Pat Regan can deliver, and the recently re-recognised Fairfield Social Club got the full force of it last night.
Making his Manchester debut as part of the ‘A Lovely Time’ series at the equally as lovely Fairfield Social Club, the New York comic, writer, and podcast host arrived with the energy of someone who had already lived through three emotional breakdowns before breakfast and somehow still had the worst to come.
Known for his work on HBO’s Hacks and the cult-favourite podcast Seek Treatment with fellow comic Catherine Cohen, Regan’s stand-up feels less like your traditional comedy set and more like being trapped in the world’s funniest group chat.
The perfectly intimate room beneath Fairfield’s railway arches was packed with adoring fans who were immediately on side as Regan launched into stories about traumatic trips to Paris, Grindr dates, massage tables and having crushes at the gym.
The audience was in the palm of his slightly sweaty hands (don’t worry, he’ll be fine with me saying so), laughing at every awkward punchline and self-deprecating anecdote.
The material is nothing groundbreaking, but this is what makes it so deeply hilarious; never before has shopping for the perfect pair of jeans been so serious and unserious at the same time.
There was laughter rolling through the venue for virtually the entire set, and after an hour of never-ending quips and jokes, we were left wanting more.
And the best part is, it won’t be long until we get more from this place, and it’s no wonder they’re starting to get the hosting plaudits they deserve.
It’s safe to say Fairfield Social Club has become one of Manchester’s most exciting homes for alternative comedy, and this felt like exactly the sort of booking that justifies its growing reputation.
By the time Regan left the stage, the audience looked equal parts exhausted and delighted. An absolutely classy evening indeed.
Find out about what else is on at the Fairfield Social Club HERE.
First-ever JD Wetherspoon pub to open at Manchester Airport
Danny Jones
In news that we feel many Mancs and travellers all-round have been waiting on for a long time, the well-known British chain, JD Wetherspoon, will be opening its first-ever pub at Manchester Airport.
That’s right: soon that first airport pint of the holiday could actually be a relatively cheap one.
While Wetherspoons are no strangers to popping up in terminals across the UK and Ireland, they’ve never done so here in Manchester despite having three, yes THREE, in Gatwick alone.
Not for much longer, though, as soon T2 will be lending more than 3,000 square feet of its prime leisure and retail real estate to a new Greater Manchester ‘Spoons’.
Posting on social media, the airport wrote: “Wetherspoon comes to Manchester Airport this September! The pub will be located in the Terminal 2 Departures lounge and will have more than 300 seats.
“This will become the final major food and drink venue to open its doors as part of our decade-long £1.3bn transformation of Terminal 2. It will be named ‘The Belle Vue’, in a nod to Manchester’s historic showground [now a sports complex and leisure hub].
“It was a focal point for social life in the city from the Victorian period up until 2020, when the final event was held at Belle Vue stadium. The design of the pub is inspired by the history of Belle Vue and the sporting culture of the North West of England. We look forward to welcoming you all in September!”
While a lot of money has been pumped into T2’s refurb as a whole over the past few years, it remains unclear just how much this particular new addition will cost; we do know that great sums were set aside for the launch of the Great Northern Market last year.
The inaugural Manchester Airport Spoons is just the latest in a series of major renovations.
As mentioned, the company already operate several up and down the country – 10 airport pubs, to be specific – but this will be the first in the North West.
Speaking on the news, JD Wetherspoon chief executive John Hutson said in a statement: “We are looking forward to opening at Manchester Airport. We believe our new pub will prove popular with travellers of all ages and be an asset to the new terminal.”
With Manchester Airport adding a dozen new routes to its roster this summer, you can expect to see even more people flying in and out than ever – no doubt having already polished off a cut-price pint or two beforehand.
Emily Sergeant -
6th May 2022 
