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U.K.’s McColl’s Racing to Secure New Funding, Sky News Says

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McColl’s Retail Group Plc is working with advisers in an attempt to find a buyer or secure new funding in order to prevent a collapse of the convenience store chain, Sky News reported, citing people it did not identify.

The retail chain has “a matter of weeks” to raise fresh capital, or it will be forced into insolvency, Sky said. McColl’s declined to comment when contacted by Bloomberg.