McColl's convenience stores were traditionally Britain's biggest local newspaper retailer outside of the supermarket chains, but now they are battling bankruptcy, with thousands of jobs at risk.

Founded in Scotland in 1973, the chain now has nearly 1,100 stores across Britain and employs approximately 16,000 people, with upwards of 6,000 of these employees on full-time contracts.

In February, the retailer was in talks regarding a rescue scheme, but with no rescue expected, the company have said that it is "increasingly likely" that they will fall into administration.

Oakham's own McColl's, which also plays host to the local Post Office, may well be impacted by this.

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