Earlier this month, the convenience retailer was forced into administration placing 16,000 jobs at risk. This resulted in Morrisons and forecourt giant EG Group – run by Asda owners the Issa brothers – running to complete a rescue deal for McColl’s.
However, alcohol sales have been suspended in McColl’s stores across the country with uncertainties on when it will be resolved.
“With regard to the sale of alcohol, it is something impacting all stores and we are working at pace to apply for all the correct licenses,” a spokesperson from Morrisons said.
However, an improved offer from Morrisons would see McColl’s lenders repaid immediately in full.
Additionally, Morrisons’ position as a major creditor is also likely to have been influential in the decision-making process.
David Potts, Morrisons’ chief executive, said: “Although we are disappointed that the business was put into administration, we believe this is a good outcome for McColl’s and all its stakeholders.
“This transaction offers stability and continuity for the McColl’s business and, in particular, a better outcome for its colleagues and pensioners.
“We all look forward to welcoming many new colleagues into the Morrisons business and to building on the proven strength of the Morrisons Daily format.”