Property companies behind My Local follow the convenience chain into administration

 
Helen Cahill
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Morrisons once owned My Local (Source: Getty)

Two property companies behind My Local, the retail chain which went into administration at the end of June, have also collapsed.

ML Convenience Ltd and ML Stores Ltd hold the property leases for My Local's stores, and are subsidiaries of the company.

Read more: After Morrisons, Greene must graft to make My Local succeed

Neither of the firms employed any staff, but the appointed administrators, Smith & Williamson, will be working to get the best deal for the companies' creditors.

​Gilbert Lemon, partner at Smith & Williamson, said: "Following the financial problems to hit My Local, its two subsidiary businesses which hold the leases on its properties have inevitably been forced into administration as well."

"Our priority is to try and get the best result that we can for all the stakeholders, including landlords and creditors."

Read more: My Local collapses into administration putting 1,658 jobs at risk

Convenience chain My Local - formerly owned by Morrisons under the name M Local - went into administration last month, putting 1,658 jobs at risk. Ninety shops are likely to be shut.

However, Morrisons said "we want to help our former colleagues", promising that if no buyer is found for My Local, and the stores close, Morrisons will hire the employees who once worked for them.

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