A court will today (5 March) rule on whether discount retailer Kwik Save should go into administration.
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Last month, the former subsidiary of Somerfield revealed that it had secured a rescue package after winning financial backing of GBP50m (US$96.04m). However, last week some staff were not paid on time, triggering fresh speculation that the chain was on the verge of collapse.
When contacted by just-food, Kwik Save refused to comment. It is understood that the company hopes to be placed into administration for a short time to give it financial breathing space.
