It has been confirmed that 26 My Local stores have been sold out of administration, saving 372 jobs, which will transfer to their respective new owners.

Partner at KPMG and joint administrator at My Local, Mark Orton, said: “From the outset of our appointment, there has been strong interest shown in certain My Local stores, reflecting the demand for high quality retail space in prime town centre locations.

“Working closely with the team at Smith and Williamson, we are therefore delighted to have been able to safeguard the future of 26 stores and moreover, the jobs of 372 staff.

“Over the coming days and weeks, we are hopeful of concluding a further 16 sales and will provide an update in due course.”

KPMG are seeking to sell a further 16 My Local stores in the near future and stores that are not sold, Morrisons said it would take back its My Local employees to a job at their company.