Supermarket chain Kwik Save has gone into administration selling 56 stores for £18m in a deal reportedly backed by Irish retail entrepreneur Brendan Murtagh.
The chain will close 90 shops, making about 1,100 people redundant, although it was unclear as Optician went to press how many of the estimated 30 stores containing optical outlets will be transferred.
The outlets will be rebranded as Fresh Express. According to retail union Usdaw, union members being transferred to the new company will join with the same terms and conditions. However, many staff have worked unpaid for the past six weeks in the hope that the chain might be saved and Usdaw said its members would be 'devastated' by the news. Unpaid workers will have to apply for statutory protection via administrators KPMG. The future of Kwik Save has reportedly been uncertain since it was sold by Somerfield group to BTTF 12 weeks ago.