The deal would aim to save as many of the 16,000 convenience store jobs at risk as possible.
Supermarket giant Morrisons has proposed a last-minute rescue deal for McColl’s, the convenience store chain which is on the brink of collapse.
McColl’s warned last night that unless it secured more funding, administration was increasingly likely.
A deal with Morrisons would potentially secure 16,000 jobs at the embattled retail chain.
Morrisons is in a partnership with McColl’s with more than 200 Morrisons Daily convenience stores.
The BBC understands that the aim of the deal would be to save as many stores and jobs as possible.
The improved offer, made on Thursday evening, is thought to include taking on McColl’s pension commitments and its £170m debt.
Morrisons has been talking to McColl’s and creditors for weeks as it aims to thrash out a rescue deal.
McColl’s is running out of cash, and needs an injection of funds to stay afloat.
-
- 36 minutes ago
