Convenience store to rebrand for second time

A buyer has been found for a convenience store on Water Lane which looked set to close after the company went into administration.

KPMG were appointed administrators to MLCG Limited, the convenience store chain trading as My Local, in June and since then ninety stores have closed, resulting in a significant number of redundancies.

However, the Wilmslow one continued to trade whilst a buyer was sought.

Today The Co-op has announced the acquisition of two further convenience stores from My Local, including the one on Water Lane, for an undisclosed sum - taking the total the cpmpany has purchased to eight.

Staff at the Wilmslow store will transfer to the Co-op.

Steve Murrells, Chief Executive – Retail, at Co-op Food, said: "The Co-op Food business is moving forwards with a clear purpose and momentum, delivering a compelling, convenient and co-operative shopping experience for millions of shoppers each day.

"Our acquisitions programme is fundamental to the success of this strategy. In the last two years we have opened close to 200 new stores, and in 2016 the Co-op is actively pursuing 100 new stores as well as carrying out refits in a further 150.

"The acquisition of eight My Local stores supports our focus on convenience store retailing and adds to a portfolio that offers the right range in the right location."

The transactions are subject to the approval of the Competition and Markets Authority (CMA).

The convenience store on Water Lane opened in August 2011 as the second M local in the country. However, it rebranded in October 2015 after its owners Morrisons agreed to sell their chain of 140 local convenience stores to a team led by retail entrepreneur Mike Greene for £25m.

Tags:
My Local, The Co-op
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Comments

Here's what readers have had to say so far. Why not add your thoughts below.

Rick Andrews
Monday 22nd August 2016 at 9:52 pm
Great news that the store will continue to operate. Hope that the majority of staff will keep their jobs. Good location and really convenient, and really pleased it has not become a coffee shop or estate agents. ;-)
Peter Evans
Wednesday 24th August 2016 at 6:07 pm
Great news, it's been very sad to see an initially excellent shop deteriorate recently. And I also agree in hoping that the excellent staff manage to keep their jobs.
Estelle Lewis
Friday 26th August 2016 at 10:18 pm
Great! We are getting a Co-op! I went in the shop when it was Morrison's (?) and found it SO expensive I came away without spending a new P. Co-op's usually hve some good deals.
Caroline Barker
Friday 14th October 2016 at 3:58 pm
Does anyone know when work will start on the Water Lane shop - nothing has changed since it closed though all the lights remain on? Thanks.
Nick Jones
Friday 14th October 2016 at 5:30 pm
All the light on and nobody home ?? Mmm Conundrum ... Maybe the new 'CEC Saving money by spending more ' H/Q ?