McColl's plans share suspension as crisis talks continue
McColl's Retail Group
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17:30 18/12/24
McColl's Retail said it would miss the deadline for publishing its annual results at the end of May and that it expected to suspend its shares from 1 June.
Food & Drug Retailers
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17:14 20/12/24
The troubled convenience store group said its annual report would be delayed because it was still in talks with lenders and other parties about a financial rescue.
McColl's warned in April that it was in financial difficulty caused by weak trading, soaring costs, high debt and supply chain problems. It said a potential rescue could leave shareholders with nothing. The company operates convenience stores under its own name and the Morrisons Daily brand.
In an update on Tuesday the company said: "As the end of May is the latest time permitted for publication of the FY21 results under the Financial Conduct Authority's … rules, the company is expecting, following consultation with the FCA in due course, to request that the listing of the company's ordinary shares of 1 pence each be temporarily suspended with effect from 7:30am on 1 June 2022".