What was Kwik Saves own brand?
The supermarket phased out its value own-label No Frills range from February 1999, replacing it with the Somerfield Basics range.
Who bought out Kwik Save?
Somerfield, which was itself bought out by a private group last November, will offload 171 of the 350 Kwik-Save stores to Back to the Future Ltd (BTTF) for a reported £200m. BTTF is headed by Paul Niklas, the former managing director of Formica, and Richard Kirk, chief executive of discount clothing retailer Peacocks.
Who founded Kwik Save?
Albert GubayKwik Save / FounderAlbert Gubay, KC*SG was a Welsh businessman and philanthropist, who made his fortune with the Kwik Save retail chain, building it further on investments, mainly in property development. Wikipedia
When did Somerfield take over Kwik Save?
1998
In 1998, the company took over the Kwik Save chain in a £473 million transaction. Although the deal was billed as a merger of equals, Somerfield investors owned 62.5% of the enlarged group.
Why did Kwik Save fail?
But the chain was crippled by a lethal combination of tough competition – as the big supermarkets slashed prices and introduced own-brand value lines and foreign discounters like Aldi and Lidl moved in – and straightforward bad management by a long line of directors who promised much and delivered little.
What is Kwik Save now?
In April 2012, the Kwik Save brand was relaunched by its new owners Costcutter as a more budget oriented fascia offering for members of its symbol group of independently owned convenience shops.
Is Kwik Save still around?
It went into administration on 6 July 2007, and closed most of its shops across the United Kingdom, with the remaining 56 being sold to a new company, FreshXpress, which itself went into administration in March 2008….Kwik Save.
| Logo since 2012 | |
|---|---|
| Type | Public company |
| Founder | Albert Gubay |
| Defunct | 2007 (original) |
Where is Kwik Save from?
Rhyl, North Wales
Kwik Save traces its roots back nearly 50 years. It was founded by Albert Gubay in 1959 as a single shop in Rhyl, North Wales. It floated on the Stock Exchange in 1970 and by the mid-1990s had more than 1,000 outlets.
Is Kwik Save coming back?
Discount retailer Kwiksave is back in business five years after it went into administration and disappeared from Britain’s high streets.