16,000 jobs saved after Morrisons wins battle for McColl’s

SUPERMARKET chain Morrisons has saved thousands of UK jobs after it won a takeover battle for collapsed retailer McColl’s.

All 1 ,000 staff will keep their positions, while the new owner will also take on two pension schemes operated by the firm.

Petrol station firm EG Group and Morrisons tabled final offers on Sunday to secure a rescue deal after McColl’s fell into administration on Friday.

Morrisons’ early approaches had reportedly been rejected by lenders who preferred EG’s offer to instantly repay more than £1 0million in debts from McColl’s. But it is understood Morrisons’ successful move will also repay the lenders in cash.

After the deal was announced, Morrisons said ‘the secured