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British Retailer McColl's Boss Jonathan Miller Steps Down Amid Financial Woes

Britain's McColl's said on Thursday Jonathan Miller, chief executive officer  had stepped down, weeks after the struggling convenience store chain warned of lower annual profit, sending its shares down 14%.

Miller's exit comes at a time when the group is in talks with lenders over new funding options.

McColl's has been grappling with supply chain issues that hit product availability in its stores, and the company's first-quarter results were weighed by a surge of Omicron cases that hurt its store footfall in Britain.

Considering Options 

A Sky News report on Tuesday said McColl's parent supermarket group Morrisons is considering options on how to deal with the financial struggles of the company.

Shares of McColl's lost more than half their value in 2021.

News by Reuters edited by Donna Ahern Checkout. For more Retail stories click here. Click subscribe to sign up for the Checkout print edition

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