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McColl’s mulls capital raise

The McColl’s convenience chain has said it is considering undertaking a capital raise to fund the expansion of its partnership with the Morrisons supermarket. The move… View Article

FOOD AND DRINK NEWS UK

McColl’s mulls capital raise

The McColl’s convenience chain has said it is considering undertaking a capital raise to fund the expansion of its partnership with the Morrisons supermarket.

The move follows a report by Sky News over the weekend in which the broadcaster said it had learnt that McColl’s had approached institutional investors regarding a potential share placing to raise around £30 million.

In a statement to the London Stock Exchange this morning, McColl’s said: “Further to recent media reporting, McColl’s Retail Group plc confirms it is currently exploring options relating to a potential capital raise to increase the number of its Morrisons Daily store conversions, accelerate the pace of roll-out of its Morrisons Daily store conversion programme, and strengthen its balance sheet.

“No final decisions have been made on whether to proceed with a capital raise or with regards to the timing or size of any such capital raise.”

  

 

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