Blog: Dean BestKwik Save problems mounting

Dean Best | 30 May 2007

Kwik Save looks to be sinking deeper into the mire.

The UK convenience retailer is set to close 79 stores as speculation swirls that the company needs more funds to prop up the business.

Kwik Save got a cash injection of some GBP50m (US$98.8m) in February but is understood to need a fresh rescue package worth a further GBP20m.

Publicly, Kwik Save hopes the cuts will revive the business. In truth, the company’s future looks bleak. Industry watchers have blamed Kwik Save’s demise on moves by larger rivals into the convenience channel and competition from low-cost groups like Aldi.


BLOG

Amazon tries again in UK food delivery

Perhaps today's most eye-catching corporate food story here in the UK is Amazon's decision to invest in food-delivery business Deliveroo....

BLOG

The heat is on at Hobnobs HQ

Andy Coyne visits snacks giant Pladis and hears about issues relating to football and sunny weather and learns of an admirable new initiative aimed at promoting positive mental health....



Forgot your password?