McColl’s which operates a number of outlets in the South Hams including two in Kingsbridge has gone into administration.
In a statement from the company they said: “In order to protect creditors, preserve the future of the business and to protect the interests of employees, the Board was regrettably therefore left with no choice other than to place the Company in administration, appointing PriceWaterhouseCoopers LLP as administrators, in the expectation that they intend to implement a sale of the business to a third-party purchaser as soon as possible.
McColl’s has a wholesale agreement with Martin’s Newsagent and also Morrisons supermarket.
They are also the largest operator of Post Offices in the UK.
Employees at the branch on Fore Street told us they weren’t allowed to speak to the media but it is understood the shops will continue to trade under administration until either a buyer is found or receivers are called in.
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