Nine Welsh Kwik Save stores shut

Nine stores across Wales are closing immediately

Nine Kwik Save stores in Wales are being shut immediately as part of a widespread closure plan.

Hundreds of jobs will be lost at 79 UK stores in a move the company said was "to secure the future of the business".

The Welsh stores are at Bangor, Holyhead, Pembroke Dock, Rhyl, Risca, Pontypool, and two in Brynmawr.

Kwik Save was founded in Prestatyn, Denbighshire, in the 1960s by Rhyl-born Albert Gubay, who sold it for £14m, and who is now said to be worth £650m.

All 79 stores will close from Wednesday.

Mr Gubay said: "I'm very sorry to hear of the demise of these stores and I wish the company well for the future.

"Kwik Save was established as a brand for the people and I very much hope it will continue to be available for the people."

This is a huge number of closures which will affect many workers Usdaw spokesman

The company said it was "with regret" that Kwik Save had to make this difficult decision.

It added: "However, in order to enable the business to succeed, the Kwik Save management team has had to announce these cutbacks to secure the future of the business".

A spokesman for the shopworkers' union Usdaw said: "This is a huge number of closures which will affect many workers.

"We will be seeing an urgent meeting with the company to clarify what redundancy package workers can expect as well as discussing the long term future of the business."

Mr Gubay opened the first Kwik Save in Prestatyn in the mid-'60s, and its headquarters remained there for many years.

The founder sold the business in 1973, and he went on to develop supermarket chains around the world, as well as the Total Fitness company. He lives in the Isle of Man.

The latest Sunday Times Rich List said Mr Gubay was the second richest Welsh person, with a £650m fortune.

The Kwik Save group was merged with Somerfield in 1998. Somerfield's new owners sold off the loss-making Kwik Save brand and most of its stores three months ago.