The convenience store McColls are to have their shares suspended from the London Stock Exchange as they are unable to get their accounts signed off in time.
The struggling retailer have been in talks with possible lenders to help shore up the business as they were badly hit during the pandemic amid inflation, supply chain issues and heavy debt.
The group, which runs more than 1,100 convenience shops, said, “The company confirms it will not be in a position to publish its annual report for the year ended 28 November 2021 by the end of May 2022, as originally intended.
“The delay reflects the need for a conclusion to discussions with key stakeholders around a potential financing solution for the business, in order to finalise the company’s 2021 audited financial statements.
“As these discussions remain ongoing, the board has concluded there is now insufficient time in order to meet the current deadline for filing these results under the Listing Rules.”