McColl's convenience store chain on brink of collapse

Convenience store chain McColl's is on the brink of collapse, potentially placing thousands of jobs at risk.

The retailer said it was "increasingly likely" it would fall into administration unless talks around short-term funding were successful.

The statement on Thursday came after Sky News reported the company could call administrators in on Friday.

More than 16,000 people are employed by McColl's, which also has a partnership with supermarket Morrisons.

The company wrote that without any extra cash, the group would likely "be placed into administration with the objective of achieving a sale of the group to a third-party purchaser and securing the interests of creditors and employees".

But the chain also stressed that discussions are still ongoing.