The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale Of Food, Beverages And Tobacco In Specialised Stores 47.2 - Retail sale of food, beverages and tobacco in specialised stores
236 jobs Number of planned job losses
Announcement Date
27 February 2006
Employment effect (start)
Foreseen end date
Description
Kwik Save is to cut more than 230 staff at supermarket stores in Wales following the sale of 68 Welsh stores. The new owners of the Somerfield chain have sold the Kwik Save brand and the majority of its stores. Thirteen of the shops in Wales will close with the probable loss of 236 jobs, while 55 remaining stores will be re-branded or sold to other companies. The rest of Kwik Save's 1,400 staff in Wales will transfer to the new owners. Among the 13 stores to close in Wales are those in Mold, Bangor, Aberdare and Rhymney. Also in Wales, 16 stores will be retained and rebranded as Somerfield stores, 27 will be transferred to BTTF which intends to keep the Kwik Save name and 12 other stores will be sold to other companies with staff transferring to the new owners.
Sources
27 February 2006: BBC News
Citation
Eurofound (2006), Kwik Save, Merger/Acquisition in United Kingdom, factsheet number 63047, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63047.
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