McColl's Retail Group plc Response to press speculation (5279K)

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RNS Number : 5279K

McColl's Retail Group plc

05 May 2022

5 May 2022

McColl's Retail Group plc

Response to press speculation

McColl's Retail Group ("McColl's" or "the Group"), the UK's leading community retailer, notes recent press speculation regarding the Group.

As previously disclosed on 25 April 2022, the Group remains in discussions regarding potential financing solutions for the business to resolve short term funding issues and create a stable platform for the business going forward.

However, whilst no decision has yet been made, McColl's confirms that unless an alternative solution can be agreed in the short term, it is increasingly likely that the Group would be placed into administration with the objective of achieving a sale of the Group to a third-party purchaser and securing the interests of creditors and employees. Even if a successful outcome is achieved, it is likely to result in little or no value being attributed to the Group's ordinary shares.

A further update will be made as and when appropriate.

Enquiries

 
 Analyst & Investors:    Tej Randhawa, McColl's    +44 (0)1277 372916 
 Media:                  Ed Young, Headland        +44 (0)203 805 4822 
                          Rob Walker, Headland      mccolls@headlandconsultancy.com

About McColl's Retail Group

McColl's is a leading neighbourhood retailer, with an estate of over 1,100 managed convenience stores and newsagents. We operate McColl's and Morrisons Daily branded convenience stores as well as newsagents branded Martin's across the UK, except in Scotland where we operate under our heritage brand, RS McColl.

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May 05, 2022 12:37 ET (16:37 GMT)

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