Shares in Mccolls are suspended

STRUGGLING convenience store business Mccolls is set to have its shares suspended from the London Stock Exchange as bosses said they would be unable to get its accounts signed off by auditors in time.

The retailer has been in talks with potential lenders to shore up the business, which struggled during the pandemic due to supply chain issues, inflation and a heavy debt burden. Shares had already plunged as the firm reported last month that talks with its lenders and banks would likely leave shareholders emptyhanded under rescue efforts. The group said it “will not be in a position to publish its annual report for the year ended 28 November 2021 by the end of May 2022, as originally intended.”