Morrisons may be making an offer for the struggling McColl’s chain.
McColl’s, which runs 1,100 newsagents and convenience stores employing 16,000 people, could go out of business within weeks.
Investors were warned late last year there were gaps on the shelves due to supply chain disruption which had been a ‘major constraint’ to trading.
Sky News reported advisers are working with McColl’s to find a buyer or investors prepared to put fresh capital into the business to avoid administration.
According to chief executive Jonathan Miller, 2021 was ‘undoubtedly a tough year for the business.’
Shares in McColl’s have fallen by 70 per cent over the past year and closed at 7p last Friday, near record lows.
Sources have told Sky News the shares are now effectively ‘worthless.’
The Issa family, owners of Asda and the EG petrol forecourt group, considered a bid but have now pulled out.
McColl’s declined to comment.
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