My Local enters administration as KPMG appointed

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My Local has formally entered administration with 90 convenience stores from the chain’s estate of 125 stores now closed.

MLCG Limited, the convenience store chain trading as My Local, has appointed Mark Orton and Blair Nimmo from KPMG Restructuring as joint administrators.

Mark Orton, partner at KPMG and joint administrator at My Local, said: “Companies across the convenience store sector have faced significant challenges in recent times, through increasing competition, pricing pressures, changes in customers’ buying habits and general structural change within the sector.

“Since taking over the business in October last year, management have faced tough trading conditions and despite their best efforts to improve performance, My Local was ultimately unable to return to viability. Having explored a number of other options, the directors were unable to find a way forward and took the difficult decision to place the company into administration.

“Although the majority of stores have now closed, we are in active discussions with a number of interested parties in relation to both the remaining 32 premises that are trading and a small number of those that have closed. We are pursuing these opportunities as a matter of priority in the hope that we will be able to conclude successful sales and safeguard as many jobs as possible.

“We will also work closely with all employees over the coming days, in particular ensuring those who have been made redundant receive the necessary support they need.”

My Local employed 1,658 people at 125 stores across the UK. Prior to the appointment of KPMG, directors successfully concluded the sale of two My Local stores in Addlestone and Holbury to the Southern Co-op, while 32 stores remain open and continue to trade.

Stores which continue to trade include: