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Kwik Save signs 18m deal

Published:  23 July, 2008

KPMG, the administrators of supermarket chain Kwik Save, say they have sold 56 of the firm's stores for 18m, saving about 600 jobs.

The deal is thought to have been backed by the Irish retail entrepreneur Brendan Murtagh.

The outlets will be re-branded as Fresh Express with staff at those outlets being paid in arrears on Tuesday (July 10).

Kwik Save entered administration last Friday (July 6) and will close 90 shops, making about 1,100 people redundant.

Those losing their jobs are unlikely to be paid by administrators and will have to make claims to the government for statutory redundancy pay.

KPMG has set up a free helpline for Kwik Save staff on 0800 3777 302.