KPMG sells Kwik Save stores
Administrators of troubled supermarket chain say they have sold 56 stores for £18m, saving 600 jobs
KPMG has secured a partial rescue package for Kwik Save after it sold a
number of stores but many redundant staff face a fight to reclaim lost wages.
The Big Four firm was appointed administrator of the supermarket company last
Friday following the closure of 90 stores, with the loss of 1,100 jobs.
But 56 stores were sold in a £18m deal – the outlets will be rebranded as
Fresh Express with staff at those outlets being paid in arrears on Tuesday,
according to
reports.
Those losing their jobs are unlikely to be paid by administrators and will
have to make claims to the government for statutory redundancy pay.