McColl’s had to close 66 newsagents and convenience stores in its last financial year following “unprecedented supply chain disruption” as a result of Palmer & Harvey (P&H’s) collapse.
The convenience chain, which released a trading update for the financial year ending November 25, acquired 11 stores in the period. Despite average sales at 59 stores increasing by 5% year-on-year following refurbishments, total sales across the company fell by 1.4% in the same period.
McColl’s CEO Jonathan Miller said: “2018 has been a very difficult year for the business, marked by unprecedented supply chain disruption and ongoing challenges.
“Looking ahead, we expect competition in the grocery retail sector to remain intense and we face into significant cost pressures. Important to our future success will be continuing to develop our partnership with Morrisons, alongside our plans to enhance our neighbourhood convenience offer by improving the quality of our estate and our overall customer experience.”
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