Store sell off on the cards for MyLocal?

23 May 2016 - Janet Bird

mylocal to sell stores

MyLocal is expected to sell off 25 convenience stores as it struggles to make headway in a challenging trading environment.

Sky News, which broke the story, said a number of the stores - which account for ten percent of MyLocal's estate - are likely to be sold to J Sainsbury and the Co-operative Group.

MyLocal owner Greybull Capital bought WM Morrison's convenience estates last year, but the chain suffered initial supplier issues, which led to a fall in sales.

If the stores are sold, it will undoubtedly raise questions about the future viability of MyLocal.

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