1,700 jobs under threat at My Local stores

SOME 1,700 jobs are at risk after Greybull Capital announced its intention to put its My Local brand into administration yesterday.

KPMG has been lined up to handle the potential administration and could be formally appointed as early as next week, according to reports.

The news follows the high-profile retail collapses of BHS and Austin Reed.

Greybull Capital bought the My Local brand – which has 120 stores across the North West – from Morrisons last year for £25m in a deal fronted by Secret Millionaire star Mike Greene.

Morrisons could be hit with a £20m liability fee is My Local goes under.

Joanne McGuinness, Usdaw national officer said: “My Local staff are devastated by the news that the company is going into administration. Having been sold by Morrisons last year, there was a mood of optimism that the new owners could turn around the business.

“We are talking with the company in a bid to save jobs and get the best deal for staff. In the meantime Usdaw is providing the support, advice and representation they need at this unsettling time.”