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,
Those losing their jobs are unlikely to be paid by administrators and will
have to make claims to the government for statutory redundancy pay.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children