Mccoll's Retail Share Discussion Threads

[kinwah] 09/5/2022 00:19

Letmepass, I don't think that's right. MCLS has probably filed a notice of the intention to appoint an administrator. However the court is obliged to listen to a petition claiming the company can be saved via a solvent process. It is extremely unusual as courts normally just rubber stamp the applications to appoint administrators. I think Morrisons can 'stay' the application for a few days so that it can make a recommended unconditional offer for MCLS. English insolvency law is drafted with the intention of saving companies wherever possible. A genuine solvent offer always trumps a pre-pack. I would think later today the court postpones a decision on appointing administrators.

[letmepass] 08/5/2022 23:57

All shareholder value is gone. Dream on

[bluepill] 08/5/2022 23:30

Trolls back now it looks like shorts going to get burned at 8am

[letmepass] 08/5/2022 23:24

From Pwhite... Oooops FLC - "Morrisons still potentially have a window to serve an injunction to stop the process."Stop what process?. Administrators are officers of the High Court so the company is 100% in administration no ifs or buts about it. What goes before the High Court are the names of the administrators that's all.

[letmepass] 08/5/2022 23:22

Agree blueface. I don't think shareholders will get anything

[letmepass] 08/5/2022 22:57

So a counter bid is I'll pay off the debt and I'll pay off the debt again. LMFAO

[mrblueface] 08/5/2022 22:43

PMSL you novice pipe down LOLOL

[mrblueface] 08/5/2022 22:29

The recession is already here novice PMSL. As for the folk losing jobs think it will be funny to watch and funny when all investors lose everything PMSL. It is a double win

[a_2_b] 08/5/2022 22:29

Nothing it's like their equivalent of giving change to the homeless it'll be interesting to see who values this business more

[mrblueface] 08/5/2022 22:27

You know f all so F off PMSL

[totalgeek69] 08/5/2022 22:27

Let's face it in the scheme of things what is paying 5 million for the equity.

[a_2_b] 08/5/2022 22:21

Looks promising to me done deal before administration has even started. Best bids probably guaranteed to include shares as there isn't a lot else left to consider.

[loganair] 08/5/2022 22:13

The bid from Morrisons – the sole supplier to McColl's – would have protected the 'vast majority' of staff and stores as well as its £141m pension plan was rejected on Friday.

But Morrisons returned with an improved deal that would see the lenders repaid in full immediately, satisfying one of their key demands.

EG Group is thought to have followed that up with its own last-ditch bid – including a commitment to honour McColl's pensions, according to sources.

It is thought that PwC, which is advising McColl's lenders, is preparing to set up a showdown between the rival bidders in which they will present their best offers for the group.

[loganair] 08/5/2022 22:06

Some posters seem to not be understanding that both Issa/ASDA and Morrison's are only offering to pay off the debt and take on the pension liabilities in return for the whole of McColl's.

McColl's be put into administration tomorrow then almost immediately, most probably the same day will be bought out of administration by either Issa/ASDA or Morrison's leaving nothing for the share holders.

[csmwssk12hu] 08/5/2022 21:59

Breaking BBC news Asda have made a counter bid matching Morrisons

[a_2_b] 08/5/2022 21:02

Over the weekend seen lots of articles saying how mccolls was a key part of the community, would be silly to let them go. Transforming these prime shops could do greater wonders for these communities and in turn the balance sheet.

[cliff edge] 08/5/2022 20:36

Previous management of Morrisons tried the M Local convenience idea and got it totally wrong, stores were in the wrong locations and the business model was completely wrong and unprofitable.

[csmwssk12hu] 08/5/2022 20:36

Not quite, Morrison sold it off for £25m, my local was then owned by Greybull capital and was supplied by Nisa not Morrisons, once Morrisons products were no longer on the shelf sales fell off a cliff and it was gone within four months

[a_2_b] 08/5/2022 20:35

If morrisons win they'd increase 3.3% of the retail market making them bigger and have a extra 1.1bil turnover as it stands by the end of the year will be a much larger amount when most of the stores get converted.

[shanejay74] 08/5/2022 20:26

Morrisons tried the convenience idea remember M Local it lasted 12 months and went after 12months so will mccolls infrastructure in 12months if they win which it won't

[csmwssk12hu] 08/5/2022 20:23

Directors have just over 10% stake in the business, each 1p cost £2.8m, the last fundraiser 8 months ago was at 20p, all directors took part, the real question now is how bad do these two want it, it’s clear they are struggling to run the business however what would it do to the business to have asda or Morrisons above the door, and how much are Morrisons making out of these annually already and how much more can they make