The chief executive of McColl’s has said the convenience store group will look to shut as many as 330 stores over the next three or four years as it seeks to rationalise its store estate as part of its strategic shift.
Jonathan Miller said McColl’s has a store estate of around 1,430 stores and would look to reduce that to an “optimal estate size” of 1,100 over the next three or four years.
“Those divestments will either be closures or sales to third parties,” he added.
Miller said the UK convenience food market is growing and, as a result, McColl’s would be looking at reducing its estate of newsagents in favour of larger, convenience-focused stores.
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