McColl’s collapses into administration

Convenience store chain McColl’s has fallen into administration, meaning more than 16,000 jobs are at risk.

McColl’s said the company’s lenders did not want to extend banking agreements that were keeping the business going.

PriceWaterhouseCoopers have been appointed as administrators, and will look for a buyer “as soon as possible”.

Supermarket chain Morrisons proposed a rescue deal on Thursday in the hopes to save the chain and countless jobs.

This story is beaking, updates to follow.