Supermarket group Morrisons has won a battle to bail out McColl’s, the supermarket and newsagent chain, taking over all 16,000 employees.
Morrisons beat a competing bid from EG Group, the gas station empire owned by billionaire Issa brothers.
Morrisons, which is already McColl’s wholesale supplier, will acquire its 1,100 stores and two pension funds with more than 2,000 members.
McColl’s goes into administration and is sold to Morrisons.
This is what is known as a pre-pack deal.
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