McColl’s Retail Group needs financing solution to continue

Chicago, May 5 – McColl’s Retail Group plc continues discussions for potential financing solutions to resolve short-term funding issues and “create a stable platform for the business going forward,” according to a press release.

According to the Prospect News archive, the company amended and extended its bank facilities to May 2022 in a previous transaction.

If an alternative solution can not 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.

McColl’s operates convenience stores and news agents across the United Kingdom. The company operates under the brand names McColl’s, Morrisons Daily, Martin’s and RS McColl.

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