Home Stores KPMG to sell Kwik Save's stores around the country

KPMG to sell Kwik Save's stores around the country

Kwik Save's 196 stores are being sold off by administrators after the supermarket chain collapsed last week, and have already attracted a lot of interest. The property firm King Sturge has been appointed by KPMG to sell Kwik Save's remaining stores around the country. All are leasehold and range in size from 4,000 square feet to 40,000 square feet. They have all closed and King Sturge is seeking offers on individual units or on a group basis. 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. Staff had not been paid for six weeks and now have to seek back pay and redundancy packages from the government. Kwik Save's administrators managed to sell 56 of the firm's stores for £18m, saving 600 jobs, in a deal backed by the Irish entrepreneur Brendan Murtagh. The outlets will be rebranded as FreshXPress 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.

 

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