Morrisons strikes eleventh-hour deal to save McColl’s from collapse

McColl's Shropshire

Supermarket giant Morrisons has swooped in to save embattled convenience retailer McColl’s with an eleventh-hour rescue deal that will preserve the majority of stores and jobs.

Retail Week understands the deal has been all but agreed with Morrisons taking £170m of debt and the McColl’s pension plan on to its books, thereby staving off the looming prospect of the convenience retailer crashing into administration.

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