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372 jobs saved as administrators confirm sale of 26 My Local stores

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The total number of former My Local stores that have been sold off has now reached 26, safuguarding 372 employees of the collapsed convenience store retailer.

KPMG, which was appointed administrator of the retail chain at the end of June, confirmed the news today after the Co-op mutual and the parent company of Spar initially acquired six and seven stores respectively.

The new owners of the 13 other acquired stores would not be disclosed, but the Retail Gazette understands a number of buyers were involved.

Nonetheless, the 372 employees of all the 26 stores so far will be transferred to their respective new owners of the stores in which they work.

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“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," KPMG partner Mark Orton said.

"We are therefore delighted to have been able to safeguard the future of 26 stores and moreover, the jobs of 372 staff.

Administrators hoped to sell an additional 16 My Local stores in the coming weeks.

For stores where no buyer is found, Morrisons has said it would welcome its My Local employees back to a job at their company.

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Published on Tuesday 19 July by Elias Jahshan

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