Jonathan Miller has stepped down from his role as Chief Executive and from the Board of struggling convenience chain McColl’s.
The news comes a month after McColl’s was the subject of speculation it was looking for fresh funding to stay afloat. The business released a statement confirming it remained in talks with its lenders towards a longer-term agreement and that it believed “a financing solution will be found that involves its existing partners and stakeholders”.
Pending the appointment of a new CEO, Angus Porter, currently Non-Executive Chairman of the Group, has assumed the role of Executive Chairman on a temporary basis. Karen Bird, Chief Operating Officer, has become Interim Chief Executive of the Group to manage day-to-day executive responsibilities. Giles David, Chief Financial Officer, will also assume additional responsibilities.
Miller was in post for more than 30 years and holds a significant number of shares in the company.
He commented: “I leave confident that, with its clearly defined, convenience-led strategy and strong partnership with Morrisons, McColl’s will continue to play a vital role at the heart of local communities across the UK.”
The rollout of Morrisons Daily stores is a key component of McColl’s strategic focus on food-led convenience. Earlier this month it opened its 200th such store with the conversion of a McColl’s site in Stockport.
McColl’s Preliminary Results for 2021 financial year are expected to be announced before the end of the month.
