McColl’s unsecured creditors are still owed £45m more than a year after it was snapped up by Morrisons in a rescue deal.
The supermarket acquired the convenience store chain in a pre-pack deal in May last year, beating rival Asda’s owners EG Group.
The rescue package totalled £182.1m, with a further £8m added to pay unsecured creditors.
In a new report by administrator PwC, unsecured creditors – which include trade suppliers and landlords – will receive dividends from the prescribed parts worth about £600,000.
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Meanwhile, documents on Companies House show the chain’s secured creditors have received the £164.3m owed to them.
PwC has also asked for an extension to the administration to 8 May 2024, claiming the standard 12-month period was not “sufficient” enough to complete the restructuring.
Earlier this year, Grocery Gazette revealed that Morrisons was to axe 160 roles from McColl’s head office as it looked to integrate the chain into its grocery business.
The supermarket has been in the process of converting the convenience stores to its Morrisons Daily fascia. It has about 600 of the 1,000 stores left to convert.
