By John Glenday

Grocery store chain My Local, which has a nationwide presence of 120 stores, is on the brink of filing for bankruptcy after filing a notice of intent to appoint KPMG as administrators.

The ominous move jeopardises the future of some 1,700 staff and ushers in a 10 day period of uncertainty whilst the business is temporarily protected from creditor’s demands.

Supermarket group Morrisons offloaded the business to retail veteran Mike Greene and Greybull Capital for £25m as recently as September, but may still be on the hook for as much as £20m in the form of lease obligations should things go belly Read full story ›

Source: The Drum