McColl’s collapses into administration as EG Group seeks to trump Morrisons’ approach

McColls 1 prospect

McColl’s has plunged into administration amid reports that Asda owners the Issa brothers are looking to trump rival Morrisons’ approach to save the c-store specialist.

McColl’s said it has appointed PwC as administrators after its lenders appear to have vetoed the approach made overnight by Morrisons to save the business. 

In a statement, McColl’s said its banks had declined to extend the waiver on its covenants and, despite the ongoing discussions with Morrisons, “had made clear that they were not satisfied that such discussions would reach an outcome acceptable to them”.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Two free article views per calendar month on
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.