Retailer McColl’s ‘increasingly likely’ to call in administrators

Convenience store chain says any rescue likely to result in little or no value being attributed to its shares

The convenience store chain McColl's has said it is increasingly likely to call in administrators as it battles to secure a rescue deal with 16,000 jobs in the balance.

The UK-listed retailer, which has more than 1,100 small shops around the UK including about 250 Morrisons Daily outlets and a number of Martin's, said any rescue was likely to result in little or no value" being attributed to its shares.