Last ditch talks to save My Local shop chain

MY Local faces an uncertain future after its owners called in emergency help to try to save the business.

Around 2,300 jobs at the convenience chain’s 140 stores are at risk after KPMG was asked to draw up options which include placing the firm into administration.

The chain was sold by grocer Morrisons in October to investment group Greybull Capital, which owns airline Monarch and has just bought the Scunthorpe steel plant from Tata. Morrisons had sold My Local after a failed attempt to launch a number of convenience stores to take on rivals.

It had snapped up high street sites left vacant when video rental chain Blockbuster went in to administra- tion. But many of the sites were in the wrong location and Morrisons later ditched them.

The purchase by entrepreneur Mike Greene through Greybull surprised analysts because they did not have the same scale as their supermarket rivals. In recent weeks the firm has been trying to sell 25 stores to cut costs. My Local declined to comment.