Kwik Save avoids administration
Kwik Save ditches administration plan after management raise additional funds
Save has secured funds to stop the retailer from entering into
Following days of press speculation, Grant Thornton partner Les Ross said the
accounting firm’s partners were not required to manage a Kwik Save
administration, as the retailer withdrew its petition order for an
has today confirmed that while it had been on standby to deal with an
administration, [Kwik Save] management had been making strenuous attempts to
raise additional funding and has now been successful in doing so.
‘Consequently at a Court hearing on Wednesday 7 March, the director’s
petition for an administration order was withdrawn,’ said Ross.