Lewes and Steyning McColl businesses are sold by Morrisons

Two from Sussex McColl’s Shops are to be sold by Morrisonsso that their takeover bid of the chain can be facilitated.

That McColl’s Stores on South Street in Lewes and High Street in Steyning are two of the 28 stores Morrisons plans to sell to address Competitions and Markets Authority (CMA) concerns about competition between local businesses.

Last year, Morrisons a belated bailout deal for the newsagent operator after it filed for bankruptcy and 16,000 jobs were at risk.

To get through this Morrisons has said it will sell 26 of the McColl’s Stores in England, one in Wales and one in Scotland.

Morrisons will sell 28 McColl's stores across the UK including in Lewes and Steyning (PA).Various McColl’s stores sold across the UK (PA)

This is because the CMA had raised concerns about 35 areas where it saw the potential for reduced competition between them McColl’s and Morrison’s stores.

Sorcha O’Carroll, CMA Senior Director of Mergers, said: “Our preliminary view is that the sale of these stores will preserve competition in these local areas and prevent consumers from losing out as a result of this deal at a time when buyers are already confronted with rising prices.

“If, after reviewing the responses to our consultation, we conclude that the competition issues have been addressed, the deal will go through.”

A speaker for Morrisons said: “We are pleased that the CMA is proposing to accept our offer to sell 28 McColl’s transactions to address competition concerns and we look forward to a speedy completion of this process.”

While the number of McColl’s save that Morrisons proposes to sell is fewer than the number of areas where concerns were originally identified, the CMA said selling some stores would address concerns in multiple locations.

https://www.theargus.co.uk/news/23044996.lewes-steyning-mccolls-stores-sold-morrisons/?ref=rss Lewes and Steyning McColl businesses are sold by Morrisons

Fry Electronics Team

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