McColl’s snaps up Ottery St Mary’s Co-op store
- Credit: Archant
Town shop included in £117million take-over deal that will safeguard 14 staff members
The Co-op in Ottery is one of 298 stores across the country included in a £117million Martin McColl’s take-over deal.
The retailers both revealed this week that, if everything goes to plan, the Yonder Street store will become a McColl’s outlet at some point next year.
One of the conditions of the sale will safeguard the jobs of the 14 members of staff currently employed at the Co-op.
While the deal is only conditional at the moment, McColl’s expects to gain approval for the takeover in January next year.
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The stores will be acquired by McColl’s in batches of up to 20 shops a week over a period of time, anticipated to be approximately five months.
A Co-op spokesman said the takeover of the Ottery store was part of a wider deal. He added: “An important consideration for us was that colleagues would have continued employment as a result of this sale, and this agreement ensures that colleagues will continue in their jobs and have their terms and conditions maintained post-sale.
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“The decision to sell the store is in no way a reflection on the hard work and commitment from the 14 colleagues working at the store.”
Viv Abbott, chairman of the Ottery Chamber of Commerce, said: “Ottery St Mary welcomes McColl’s to the area.
“I am sure the service they will provide many customers will be appreciated. The Co-op has served the town very well over the years and, in a way, I’m sad to see it go, but these are new and interesting times. I hope they will do well here.”
McColl’s chief executive, Jonathan Miller said: “I am delighted to announce the acquisition of 298 quality convenience stores.”