A convenience store on Water Lane looks set to close unless a buyer can be found, as the company has gone into administration.
KPMG have been appointed administrators to MLCG Limited, the convenience store chain trading as My Local which had 125 shops across the UK.
Ninety stores have now closed, resulting in a significant number of redundancies. While a further three are in the process of being closed, the remaining 32 stores, including the Wilmslow store on Water Lane, are still open and continue to trade.
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.
"Although the majority of stores have now closed, we are 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.
"We will also work closely with all employees over the coming days, in particular ensuring those who have been made redundant receive the necessary support they need."
If administrator KPMG cannot find buyers, the Water Lane shop will close along with the remaining stores.
A spokesperson for KPMG said "As it stands, a sale of the Wilmslow site has not been agreed, so the joint administrators are unable to make any comment at this stage."