Another day, another retail failure
Convenience store chain My Local has gone into administration putting over 1,600 jobs at risk.
The chain’s 90 stores, which were formally owned by Morrisons and were sold to Greybull Capital last year, have struggled in austere market conditions.
Administrators KPMG are looking for buyers for the store.
Greybull boss Mike Greene said: “The last nine months has been one of the toughest retail trading periods that I have ever experienced and My Local has faced intense competition.
“The management team has been unable to return the business to profitability. For that I am truly sorry.
“We will continue to support the administrators in their efforts to safeguard as many jobs as possible.”
In a statement last week, Morrisons said: “We are saddened and disappointed to learn that My Local is about to enter administration.
“We want to help our former colleagues who now work for My Local.
“We can therefore confirm that if no buyer is found, and stores close, we will welcome our former colleagues back to a job at Morrisons.”