Supermarket giant Morrisons has today (Monday 9th May) swooped in to rescue McColl's and its 16,000 staff after the convenience store business went into administration.

Leek Nub News reported recently how the convenience store chain, which has a store on the junction of Abbott's Road and Novi Lane in Leek, was on the brink of collapse.

It appears that the future of the Leek store will now be secure, with Morrisons agreeing to take on all of the McColl's stores, which total over 1,000, and pay off it's £170 million worth of debt.

Morrisons also reportedly won against a last minute bid from the billionaire Issa brothers, who also own Asda, to buy the store chain.

PwC, who were in charge of McColl's administration, have since said the deal provides "much needed certainty" for the company's thousands of staff.

Meanwhile Morrisons chief executive, David Potts called it "a good outcome", adding that the deal "offers stability and continuity" for McColl's.

Are you pleased that the future of the Leek store has now been secured? Feel free to let us know in the comments on social media!