Member Info for dnd2136

i was buying over 7p a couple of weeks ago

positive news with banks and this is back over 6p imo

dnd2136 250

carnt see any 100 bag ramps here

agree should bag next week imo

doesnt look like its going under to me buy hey what do i know im just speculating dyor

changing the business from dead end news agents to food shops is the best option here. morrisons daily shops look great

sorts out bank loans with a extension could see a nice multibag

ceo put 3 million in at 20p

broker targets 12p

nearlly all retail have debt. some in the billions

a agreement will be made with banks imo just like they say on the rns

Despite the success of its Morrisons Daily expansion, McColl’s has been in continuing discussions with banks about its loans.

Its share price has fallen sharply in recent months.

But the Morrisons Daily conversions continue to deliver the strongest performance across the business, McColl’s says, with a payback on investment of two to three years

The company says it remains on track to complete 450 Morrisons Daily store conversions by the end of this financial year.

Jonathan Miller, chief executive, said: “We are extremely pleased to reach the milestone of 200 Morrisons Daily stores.

“The Morrisons Daily stores are fundamentally reshaping our business into a more profitable and sustainable model in the medium term, as well as providing customers with access to a wider range of products, greater value, and a supermarket-quality fresh food and grocery offer.

“It’s been a brilliant effort from the teams of both businesses to deliver this number of store conversions in such a short period of time.”

The rollout of Morrisons Daily stores is a key component of McColl’s strategic focus on food-led convenience, intended to increase sales and improve the sales mix of the group.

The group has opened 31 Morrisons Daily stores this year and a further seven will be converted next week.

The continued expansion comes against the background of speculation in recent weeks that McColl’s could be sold, although one potential buyer has withdrawn.

Despite the success of its Morrisons Daily expansion, McColl’s has been in continuing discussions with banks about its loans.

Its share price has fallen sharply in recent months.

But the Morrisons Daily conversions continue to deliver the strongest performance across the business, McColl’s says, with a payback on investment of two to three years

McColl’s has reached the strategic milestone of opening its 200th Morrisons Daily with the conversion of a McColl’s store in Stockport, Greater Manchester.

Milestone for McColl’s as it opens 200th Morrisons Daily store 

boom now im confident could be a serious multibag from 600k mcap imo

recent broker target reduced from 22p to 12p i would be happy seeing 7p again

upto 2024 for shop closures
alot of them are tiny newsagents
high risk but high reward imo

this is from feb 2020 so they are not going to rns every shop shut
McColl’s has revealed plans to shut 330 stores in the next three to four years as it seeks to focus its activities in the food convenience market.

got the same fishy feeling but the closing of shops has been planed for a while

average now 125ish not very confident at all though here

news soon on this

Update on financing

 

The Group confirms it remains in ongoing discussions with its lending banks, as previously announced on 29 November 2021, towards a longer-term agreement in relation to the balance of the facility. The Group has received the necessary agreement to roll forward its financial covenant test periodically, and continues to receive credit support from its key commercial partner to enable these discussions. The Group continues to believe that a financing solution will be found that involves its existing partners and stakeholders. A further update will be made as and when these discussions conclude.

A McColl’s spokesperson told Retail Gazette: “Over the medium term, as a result of further divestments and net of future acquisitions, we anticipate an optimised estate of around 1100 larger, more convenience focused stores.”

McColl’s has revealed plans to shut 330 stores in the next three to four years as it seeks to focus its activities in the food convenience market.

some of the shops are dead i agree others are packed. getting rid of dead ducks are a good idea