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Convenience store chain McColl’s goes bust with 16,000 jobs at risk

Convenience store chain McColl’s goes bust with 16,000 jobs at risk
The 120-year-old chain has gone into administration

Convenience shop chain McColl’s has gone bust, putting 1,100 shops and 16,000 jobs across the country at risk.

The 120-year-old company has struggled financially in recent years after witnessing soaring costs due to supply chain disruption, inflation and its large debt burden.

It said discussions with its lenders collapsed as creditors refused to extend a deadline for the retailer to find more cash.