McColl’s, which has stores in Ribbleton and Penwortham, is set to go into administration.Advertisement
However the BBC reports that the co-owners of Asda – the Issa brothers – could agree a deal with administrators that would rescue the bulk of the convenience retailer.
Accountancy firm PwC is expected to be appointed as administrators when the courts reopen on Monday morning.
It is understood a sale to the Issa brothers’ EG Group could come soon after.
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As well as Asda, the EG Group owns thousands of petrol stations and convenience shops in the UK, Ireland, Europe, Australia and the US.
In a statement, McColl’s said PwC intended to look for a buyer “as soon as possible”.
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