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About 1,300 McColl’s jobs at risk after new owner Morrison reveals plans to close 132 loss-making stores
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About 1,300 McColl jobs have been jeopardized after Morrison unveiled proposals to close 132 loss-making stores in the convenience chain it bought this year.
The supermarket signed a deal in May to buy its troubled rival for £190 million in a bailout deal.
Morrisons has revealed plans to overhaul the company after competition authorities said last week they would approve the buyout.
Takeover: Morrisons made a deal in May to buy the troubled supermarket chain for £190m in a bailout deal
Bosses expect some McColl’s stores to return to profitability as part of the turnaround.
Bradford-based Morrisons, which itself was bought last year in a £7bn deal, said all staff at risk from the closure plans will be given jobs elsewhere in the company.
It will also convert McColl’s stores into its own Morrisons Daily brand.
Joseph Sutton, Morrisons’ director of online and wholesale, said McColl’s had “strong potential,” but added: “We have a lot of work to do.
“We deeply regret the proposed closure of 132 loss-making stores, but it is an important step towards the recovery of the business.”