Morrisons is to close the 132 loss-making McColl’s convenience stores that it bought earlier this year.
The chain was rescued from insolvency in May by Morrisons, which beat the owners of Asda to seal the deal. Morrisons agreed to pay McColl’s lenders, which were owed about £160m, upfront.
Morrisons said most of the shops, which account for around 10% of the 1,164 stores bought in May, would be shut by the end of the year. However, 55 that also contain a Post Office will remain open until 2023.
