In September 2022 SPS was hired by Morrisons Plc to renegotiate over 1000 McColls leases over a period of six months.

McColls SEPTEMBER 2022

Morrisons purchased the assets of McColls, including the leases, out of administration. In order to successfully revive the McColls stores as “Morrisons Daily”s, it was necessary to lower the rental base of the business.

SPS deployed a focused team to clean and collate a full tenancy schedule and negotiate each and every lease. SPS achieved a broad and significant cost decrease across the portfolio, delivering new heads of terms on over 700 leases.