The joint administrators of My Local have confirmed that they have sold 26 of the convenience retailer’s former stores, safeguarding a total of 372 jobs.
Mark Orton and Blair Nimmo from KPMG were appointed joint administrators to MLCG Limited, which traded as My Local, on 29 June 2016. Following their appointment, Gregory Palfrey, Gilbert Lemon and Paul Wood of Smith & Williamson were appointed joint administrators to ML Convenience Ltd and ML Stores Ltd, which held the leases on My Local’s stores.
The 26 stores, which are in locations around the UK, have been sold to a number of convenience store operators. A total of 372 My Local employees have transferred to the respective owners of the stores in which they work.
Mark Orton, partner at KPMG and joint administrator at My Local, said: “From the outset of our appointment, there has been strong interest shown in certain My Local stores, reflecting the demand for high quality retail space in prime town centre locations. Working closely with the team at Smith and Williamson, we are therefore delighted to have been able to safeguard the future of 26 stores and moreover, the jobs of 372 staff. Over the coming days and weeks, we are hopeful of concluding a further 16 sales and will provide an update in due course.”
Notes to Editors:
Stores sold by the joint administrators and number of staff employed at that store:
|Windermere 13||Banbury 7|
|Croydon 17||Bath Twerton 14|
|Nottingham Railway 26||Leigh On Sea 13|
|Steeton 13||Bristol White Ladies 17|
|Widnes (Upton) 18||Rhyl 11|
|Blackpool Warley 14||Rugeley 13|
|Stockport Didsbury 15
|Bristol Portishead 13
||Cardiff Cow 14|
|Eastbourne 17||Chatham 14|
|Wroughton 15||Whitstable 14|
|Wokingham 13||Witham 15|
|Bristol Gloucester Road 14||Barking 8|
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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff. The UK firm recorded a revenue of £1.96 billion in the year ended September 2015. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 174,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
About Smith & Williamson
Smith & Williamson is an independently owned professional and financial services group with over 1,600 people. The group is a leading provider of investment management, financial advisory and accountancy services to private clients, professional practices and mid-to-large corporates. The group has thirteen offices; these are in London, Belfast, Birmingham, Bristol, Cheltenham, Dublin (City and Sandyford), Glasgow, Guildford, Jersey, Manchester, Salisbury and Southampton.
Smith & Williamson LLP
Regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities. A member of Nexia International.
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