Supermarket Chain Morrisons Appoints Houlihan Lokey to Explore Future of Convenience Retailer Partner
- Morrisons hires Houlihan Lokey advisors to explore options for McColl’s Retail Group
- McColl’s and Morrisons have a joint venture with over 200 shops
- No plans for takeover bid, but acquisition of sites possible in break-up or insolvency process
Morrisons, owned by private equity firm Clayton Dubilier & Rice, has appointed advisors Houlihan Lokey to explore options for the future of its convenience store partner McColl’s Retail Group. The move should not be interpreted as a sign of a takeover bid but could involve acquiring sites in case of a break-up or insolvency process. Morrisons and McColl’s have a joint venture with over 200 shops, and the supermarket chain is extending its support for the enlarged conversion programme from 350 to 450 stores by November 2022.
Factuality Level: 8
Factuality Justification: The article provides accurate information about Morrisons’ appointment of Houlihan Lokey and their plans regarding McColl’s Retail Group. It also mentions the joint venture between the two companies and the extension of Morrisons Daily stores. However, it lacks some details on the specific options being considered for McColl’s future.
Noise Level: 4
Noise Justification: The article provides relevant information about Morrisons considering options for McColl’s Retail Group’s future but lacks in-depth analysis or actionable insights. It also mentions the appointment of Houlihan Lokey without providing further details on their role or impact on the situation.
Financial Relevance: Yes
Financial Markets Impacted: Morrisons, McColl’s Retail Group
Financial Rating Justification: The article discusses Morrisons considering options for the future of its convenience store partner, McColl’s Retail Group, which could impact the financial markets and companies involved.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned in the text
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