My Local branches sold off saving 372 jobs
ADMINISTRATORS of the collapsed convenience chain My Local have sold 26 of the former stores, safeguarding 372 jobs.
Mark Orton and Blair Nimmo from KPMG were appointed joint administrators to MLCG Limited, which traded as My Local, on 29 June 2016.
The administrators said that the chain had suffered “significant challenges” in the convenience sector, and have sold the stores to a number of convenience stores, transferring staff at the same time.
372 jobs were transferred in the deal which covered stores across the UK
Chief executive Mike Greene had said last year that former owners Morrisons had made “basic errors” with the chain and he would be able to return the stores to profitability.
Across the group 1,200 jobs were put at risk. By 30 June, 90 stores had already closed down.
The newest deal means that administrators have saved the majority of the remaining 458 jobs and 32 stores.
The 26 stores, which are in locations around the UK, have been sold to a number of convenience store operators. A total of 372 My Local employees have transferred to the respective owners of the stores in which they work.
Mark Orton, partner at KPMG and joint administrator at My Local, said: “From the outset of our appointment, there has been strong interest shown in certain My Local stores, reflecting the demand for high quality retail space in prime town centre locations.
“Working closely with the team at Smith and Williamson, we are therefore delighted to have been able to safeguard the future of 26 stores and moreover, the jobs of 372 staff. Over the coming days and weeks, we are hopeful of concluding a further 16 sales and will provide an update in due course.”
