Heaton Mersey store is set to become a new Co-op
A CONVENIENCE store which is part of a chain threatened by closure has been sold and taken over.
The Co-op has bought eight My Local stores across the country, including the one on Didsbury Road in Heaton Mersey.
Administrators from KPMG Restructuring were called in to oversee My Local at the end of June, with 90 of chain’s 125 stores closing immediately.
Joint administrator Mark Orton said that KPMG hoped to ‘conclude successful sales and safeguard as many jobs as possible’ at the remaining shops.
A Co-op spokesman said that the Heaton Mersey store, along with other stores around the country in Croydon, Ilkley, Nottingham, Widnes, Blackpool, Steeton and Wilmslow have now been acquired by the firm for an ‘undisclosed sum.’
Steve Murrells, chief executive of retail at Co-op Food, said: “The Co-op Food business is moving forwards with a clear purpose and momentum, so we can deliver a compelling, convenient and co-operative shopping experience for millions of shoppers each day.
“Our acquisitions programme is fundamental to the success of this strategy.
“In the last two years we have opened close to 200 new stores, and in 2016 the Co-op is actively pursuing 100 new stores as well as carrying out refits in a further 150.
“The acquisition of these My Local stores supports our focus on convenience store retailing and adds to a portfolio that offers the right range in the right location, and which is evident in our continued positive like for like sales growth.”
A KPMG spokesman said there were a ‘significant number’ of redundancies when the 90 My Local stores in other parts of the country were shut down.
A Co-op spokesman confirmed the shop’s staff will transfer over to the Co-op.