32 shops could be sold
Kwik Save chief executive Paul Niklas is thought to be close to selling more than half of the 56 stores that it bought when the discount chain went into administration on Friday.

It is understood that Niklas could sell 32 of the 56 stores to Sainsbury's, Tesco and Co-operative Group this week, although contracts have not yet been signed.

Late Friday, Kwik Save's administrators managed to sell 56 of the beleaguered retailer's stores to Irish property investor Brendan Murtagh for£18 million. Niklas wants to trade them as FreshXpress.

If the sale of the 32 shops goes through, it would leave Niklas with just 24 Kwik Save stores to rebrand and trade as FreshXpress. It is not clear whether Tesco, Sainsbury's or Co-operative Group would continue to employ Kwik Save employees at the affected stores. KPMG said 600 jobs had been rescued with the transfer of the 56 stores.

Administrator KPMG has appointed property agent King Sturge to sell Kwik Save's remaining 196 stores.

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