The convenience shop chain McColl’s, which has stores across Devon, has announced it has gone into administration, threatening 16,000 jobs nationwide.
According to McColl’s the company’s lenders are not willing to extend banking agreements which were keeping the company afloat.
McColl’s has stores in Barnstaple, Bideford, Ilfracombe, Torquay, Exeter, Okehampton, Holsworthy, Ottery St Mary, Exmouth, Sidmouth and Kingsbridge.
On Thursday the supermarket Morrisons proposed a rescue deal in an attempt to secure the chain’s future.
PriceWaterhouseCoopers, appointed as administrators, are looking for a buyer ‘as soon as possible’.
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