Administrators have been appointed for My Local’s chain of 125 convenience stores.
Prior to the appointment of Mark Orton and Blair Nimmo from KPMG Restructuring as joint administrators, two stores were sold off by My Local’s directors.
A total of 90 stores closed earlier this week, with a further three stores in the process of being closed. The administrators intend to find buyers for the remaining 32 stores still trading.
My Local employed 1,658 people across the UK.
Mark Orton, partner at KPMG and joint administrator at My Local, said: “Companies across the convenience store sector have faced significant challenges in recent times, through increasing competition, pricing pressures, changes in customers’ buying habits and general structural change within the sector.
“Since taking over the business in October last year, management have faced tough trading conditions and despite their best efforts to improve performance, My Local was ultimately unable to return to viability.
“Having explored a number of other options, the directors were unable to find a way forward and took the difficult decision to place the company into administration.”
He said they were in “active discussions” with a number of interested parties in relation to both the remaining 32 premises that are trading and a small number of those that have closed.
“We are pursuing these opportunities as a matter of priority in the hope that we will be able to conclude successful sales and safeguard as many jobs as possible.”
Stores sold prior to appointment:
Stores which continue to trade:
Bristol Gloucester Rd
Bristol White Ladies
Leigh On Sea
Stores to be closed:
Bristol Rd Nth
Bristol Long Gr
New Oxford St
Manchester Oxford Road
Southend High St
Royal Wootton Bassett