![Pinterest](https://pinterest.com/pin/create/button/?url=https://uknews.evprotec.com/morrisons-to-close-132-mccolls-stores-with-1300-jobs-at-risk/&media=https://uknews.evprotec.com/wp-content/uploads/2022/11/people-enter-mccolls-convenience-store-731052294-1.jpg&description=MORRISONS will close 132 McColl's stores leaving 1,300 jobs at risk. The supermarket revealed its proposals to shut over one hundred loss-making stores in the convenience chain it bought earlier this year. The move could put over one thousand jobs at riskCredit: Reuters The supermarket giant sealed a deal to buy its troubled rival for £190 million in a rescue deal in May. On Tuesday, Morrisons unveiled plans to overhaul the convenience retailer after competition regulators said last week that they were set to clear the takeover. Morrisons said it expects some McColl's stores to return to profitability as part of its turnaround plans. But the supermarket said that there are "132 stores where there is no realistic prospect of achieving a breakeven position in the medium term." Bradford-based Morrisons, which itself was bought in a £7 billion deal last year, said all 1,300 workers at risk from the closure plans will be offered roles elsewhere in the company. The corner shop chain McColl's was saved from closure after Morrisons swooped in to save 16,000 jobs back in May. McColl's struggled badly during the pandemic due to supply chain issues, inflation and a heavy debt burden. And reports suggested that McColl's had notched up £170million of debt. But Morrisons saw off a rival bid from the EG Group after it tabled an 11th hour improved bid. Under the original deal, it reported that staff would keep their jobs and all 1,100 shops will be saved - but the supermarket has now backtracked on this promise. Joseph Sutton, Morrisons' convenience, online and wholesale director, said: "We have a great deal of work to do but there's no question that McColl's is a business with strong potential. "We very much regret the proposed closure of 132 loss-making stores but it is, very sadly, an important step towards the regeneration of the business. "I am confident that McColl's can, in the Morrisons family, once again become a growing, thriving and vibrant convenience business serving l){kind=link}
MORRISONS will close 132 McColl’s stores leaving 1,300 jobs at risk.
The supermarket revealed its proposals to shut over one hundred loss-making stores in the convenience chain it bought earlier this year.
Morrisons sealed a deal to buy its troubled rival for £190 million in a rescue deal in May.
On Tuesday, Morrisons unveiled plans to overhaul the convenience retailer after competition regulators said last week that they were set to clear the takeover.
Morrisons said it expects some McColl’s stores to return to profitability as part of its turnaround plans.