 | |
| My Local | |
| Company type | Private |
| Industry | Convenience shops |
| Founded | September 2015 |
| Founder | Mike Greene |
| Defunct | July 2016 |
| Fate | Administration |
| Headquarters | Southampton, UK |
Area served | United Kingdom |
Key people | Mike Greene (Chief Executive) |
| Parent | Greybull Capital LLP |
| Website | www.mylocal.uk.com |
My Local was a chain of 130 convenience shops in the United Kingdom.
Funded by the private equity house and turnaround specialists Greybull Capital, My Local was formed in 2015 to acquire Morrisons struggling chain of M Local convenience shops with a view to bringing the shops into profitability.
My Local was founded and run by Mike Greene, a convenience shop veteran who was critical of how Morrisons had run the shops and boasted of his ability to turn them around,[1] bragging that the chain would be profitable in its first year.[2]
Under Greene's leadership, sales at the My Local shops collapsed as customers defected to rivals, citing My Local's poor produce, high prices and lack of availability.[3]
Sales at My Local were significantly down on the levels achieved when the shops were run by Morrisons. As a result in February 2016, less than four months after it began trading, My Local was forced to appoint KPMG to review the options for the struggling chain and began a process of selling off a number of its few profitable sites to competitors.[4]
My Local went into administration on 29 June 2016.[5]
- ^ RetailVisionTV (5 January 2016), Mike Greene Meet the Boss Part Two: Retail Vision learns Greene's plans for the chain, retrieved 6 September 2016
- ^ "MyLocal Sale Plan Casts Doubt Over Future". Retrieved 6 September 2016.
- ^ Mannering, Robin. "My Local chief Mike Greene outlines new chain's ambitions". Retrieved 6 September 2016.
- ^ "MLCG Limited - Joint Administrators Proposal KPMG". www.insolvency-kpmg.co.uk. Retrieved 6 September 2016.
- ^ Curry, Rhiannon (29 June 2016). "My Local appoints administrators". The Telegraph. Retrieved 6 September 2016.