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Last Updated: Monday, 27 February 2006, 17:59 GMT
Job threat follows Kwik Save sale
Kwik Save store
Thirteen Kwik Save stores in Wales will close
More than 230 staff at supermarket group Kwik Save in Wales are likely to lose their jobs with the sale of 68 Welsh stores.

The new owners of the Somerfield chain have sold the Kwik Save brand and the majority of its stores.

Thirteen of the shops in Wales will close with the probable loss of 236 jobs, while 55 remaining stores will be re-branded or sold to other companies.

The rest of Kwik Save's 1,400 staff in Wales will transfer to the new owners.

A consortium led by property tycoon Robert Tchenguiz, which included Apax Partners and Barclays Capital, took over Somerfield in December last year in a 1.1bn deal.

KWIK SAVE STORE CLOSURES
Aberdare
Bangor
Bridgend - Cheapside
Cardigan
Denbigh
Holyhead - Erw Cross Rd
Llandrindod Wells
Mold
Pontypridd - Midway
Port Talbot - Taibach
Rhymney
Risca - Pontymister
Tonypandy - Llywnypia Road

The loss-making Kwik Save brand and many of its stores have been sold to BTTF, a new company specifically set up to operate Kwik Save, for an undisclosed sum.

Among the 13 stores to close in Wales are those in Mold, Bangor, Aberdare and Rhymney.

Also in Wales, 16 stores will be retained and rebranded as Somerfield stores, 27 will be transferred to BTTF which intends to keep the Kwik Save name and 12 other stores will be sold to other companies with staff transferring to the new owners.

Kwik Save, which was based in Prestatyn, north Wales, was bought by Somerfield in 1998.

The Prestatyn headquarters was closed down a year later.


SEE ALSO:
Somerfield sells Kwik Save stores
27 Feb 06 |  Business
Somerfield ditches Kwik Save boss
13 Nov 02 |  Business


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