McColl's boss departs amid talks to secure convenience chain's future

The boss of convenience store and newsagent chain McColl's has stepped down as the company looks to secure its future.

The group, which employs some 16,000 people and also trades under the RS McColl banner in Scotland, said Jonathan Miller had departed after 30 years with the firm, including six years at the helm.

Non-executive chairman Angus Porter has taken on the role of executive chairman until a successor to Miller is appointed, with chief operating officer Karen Bird becoming interim chief executive to manage the day-to-day responsibilities.

The changes come as the firm remains in talks with lenders to secure vital funding, while working with advisers to find a buyer or a third party willing to inject fresh cash.

Convenience store and newsagent chain McColl's employs some 16,000 people and also trades under the RS McColl banner in Scotland. Picture: Danny Lawson/PA

Supermarket giant Morrisons - which runs its Morrisons Daily convenience stores in partnership with McColl’s - is now said to have drafted in City advisers as it considers how to deal with the financial struggles of McColl’s.

Morrisons has appointed investment bank Houlihan Lokey to look at options for its exposure to McColl's, according to a Sky News report earlier this week.

Angus Porter, executive chairman of McColl’s, said: “As we discuss with our stakeholders the transformation of our business to a grocery-led convenience offer, Jonathan and the board have agreed that now is the right time to bring in a new chief executive to lead the business into a new phase.

“In the meantime, we have a strong management team in place to take the business forward, and we are confident in our strategy to capitalise on the opportunity in the convenience sector in the years ahead.”

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