McColl's snaps up Ottery St Mary's Co-op store
PUBLISHED: 15:46 21 September 2016
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.
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.
“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.”