My Local on verge of administration
UK: Convenience store chain My Local is reported to be on the verge of administration.
The national media was tonight reporting that KPMG is expected to be appointed administrator of the 120-store My Local chain by owners Greybull Capital.
The stores, formerly known as M Local, were acquired from Morrisons in a £25m deal in September. The acquisition team was led by retail entrepreneur Mike Greene and backed by Greybull Capital.