Wed, 21 Oct 2015 | BUSINESS SALE
McColl's the newsagents is set to sell 100 of its less profitable retail outlets in a bid to enhance the company.
While the stores might be on the lower side of profitability for McColl's, these are still solvent businesses and the company is unlikely to sell them for any less than their asset value.
A spokesperson for the company said: “As we continue to grow our convenience store estate we constantly review our wider store portfolio, and from this we have identified 100 newsagents which no longer align to our strategic objectives.
“The sale of these stores will generate funds which will allow us to invest further in profitable convenience stores.”
The company will continue to work to enhance its other stores and its convenience business across the country.
No confirmation has yet been given regarding where in the country the retail stores for sale are located.
In total the firm operates some 474 newsagents shops, which are under the brand of RS McColl in Scotland and Martin's in the rest of the UK. It also has an estate of almost 900 McColl's-branded convenience stores, which represent more than half of its total portfolio.
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