UK: Sainsbury's acquires 15 Kwik Save outlets
UK retailer Sainsbury's is acquiring 15 stores from the supermarket group Kwik Save, which went into administration in July.
Sainsbury's completed the purchase of seven of the sites last week and expects to complete on the remaining stores by the end of the month.
The stores, which have an average size of 6,000 sq ft, will be converted and reopened in a phased programme that is expected to see all the units fully operational by Christmas. They are in town-centre locations in the north of England, the Midlands and Wales.
Sainsbury's is to offer former Kwik Save workers at the stores employment under TUPE (Transfer of undertakings protection of employment) regulations.
"This acquisition will bring approximately 90,000 sq ft of new space to our store estate and represents a significant development in our plan to open 100 new convenience stores over the next three years," said Sainsbury's CFO Darren Shapland.
The last five days on just-food have seen a Sainsbury's potato buyer arrested for accepting backhanders, UK cereal firm Dorset Cereals sold off to local peer Wellness Foods and Dave Brooks, CEO of cak...
The potato supplier at the centre of allegations linking Sainsbury's to a GBP3m (US$6.1m) bungs scandal has said it has so far found no other irregular payments made to other UK retailers....
A buyer at Sainsbury's, the UK's third-largest retailer, has been arrested over allegations of accepting backhanders from a potato supplier....
Morrisons chief executive Marc Bolland has spoken of his reluctance for the UK grocer to move into online retailing....
Online retail sales jumped 54% in the UK last year, proving more consumers are choosing to ditch traditional shopping habits for convenience....
UK retailer Sainsbury's has appointed Luke Jensen to the newly-created role of director of strategy for the next phase of the company's turnaround programe....
A reduction in the number of milk processors in the UK would improve margins among the companies and boost returns to farmers, a study has claimed....
Marine Harvest is continuing with its investigations into the Scottish salmon withdrawals as yet another supermarket is forced to recall its stock....
- Unilever 2016 investor day - the top takeaways
- Have food promotions reached tipping point?
- Mondelez goes beyond certified cocoa - analysis
- What Premier CEO Gavin Darby thinks about Brexit
- How Tyson's new CEO plans to grow the meat group
- Nestle unveils process to cut sugar by 40%
- Unilever sets new margin target with help from ZBB
- Unilever focuses on "value" of spreads arm
- Putin 'wants embargo to run as long as possible'
- McCormick to buy flavours business Enrico Giotti