Responding to reports in the UK press this morning (14 February) that the company is considering radical measures to minimise the financial impact of its struggling Kwik Save chain, Somerfield amd Kwik Save owners have downplayed the likelihood of store closures.

According to a report in the Daily Mail, Somerfield’s new private equity owners are considering a restructuring programme that would see the closure, sale or re-branding of up to 500 Kwik Save outlets.

Julie Daniels, Somerfield & Kwik Save spokesperson, told just-food that these rumours are purely speculative.

The Kwik Save lost an estimated GBP40m (US$69.2m) last year and is being supported by the more successful Somerfield chain.