SEVERAL stores across North Wales are believed to have been saved in a multi-million pound deal.

Last week, concerns were raised following the announcement that the McColl's chain had fallen into administration.

That sparked uncertainty over the future of its 1,160 shops - including the ones it has in North Wales - as well as putting 16,000 jobs at risk.

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But, since then, it has been confirmed that Morrisons has completed a deal for the retailer.

The convenience chain has stores in Gwynedd, Wrexham, Anglesey and Flintshire.

And, with this deal, McColl's says its staff will keep their jobs as it transfers over to its new owner.

Morrison and forecourt giant EG Group both tabled final offers on Sunday to secure a rescue deal for McColl's.

Morrisons' early approaches had reportedly been rejected by lenders who preferred EG's offer to instantly repay more than £160 million in debts from McColl's.

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However, it is understood that Morrisons' successful move will also repay the lenders in cash. 

In a statement after the deal was announced, it said that "the secured lenders and preferential creditors will be paid in full with a distribution also expected to unsecured creditors".

Morrison chief executive David Potts said: "Although we are disappointed that the business was put into administration, we believe this is a good outcome for McColl's and all its stakeholders. This transaction offers stability and continuity for the McColl's business and, in particular, a better outcome for its colleagues and pensioners. We all look forward to welcoming many new colleagues into the Morrisons business and to building on the proven strength of the Morrisons Daily format."

A spokesperson for the McColl's Pension Schemes said: "The trustees welcome the announcement that Morrisons will continue to support the schemes following its acquisition of the McColl's business. The trustees will continue to engage with all stakeholders to ensure that members' benefits are protected following the completion of the transaction."

Morrisons is currently McColl's wholesale supply partner and was expected to immediately terminate its deal with the convenience chain if the takeover move proved unsuccessful. 

McColl's also runs around 270 stores under the Morrisons Daily brand.

Among the McColl's stores in North Wales are:

  • 12 Dean Rd, Rhosnesni, Wrexham
  • 1a New High St, Ruabon, Wrexham
  • Kings House, High St, Bagillt
  • 37 Ffordd Tudur, Morawelon Rd, Holyhead
  • High Street, Bagillt
  • 108 The Vale, Denbigh
  • 2 Madoc Street, Llandudno
  • 5 Bridge St, Llanerchymedd
  • 39-41 Church St, Blaenau Ffestiniog
  • 18 High St, Mold
  • 36/38 Rhosnesni Ln, Wrexham