Kwik Save announces further closures

kwik%20saveKwik Save, the struggling supermarket chain, is closing 22 stores just days after announcing it was reopening 20 stores already earmarked for closure. The retailer initially closed 79 branches on May 30.

It is not clear whether the new closures will affect any of the 20 stores reopened this week.

The troubled retailer appointed consultants KPMG last month to help find new funding despite securing a refinancing deal worth £50m earlier this year.

The discount supermarket group has been facing fierce competition recently from rivals such as Aldi and Lidl and has been dogged by reports of empty shelves and disgruntled staff. It has also suffered a number of distribution problems since its buyout from Somerfield.

The Huddersfield-based group now has just 148 branches after axing 35% of its portfolio. It has until the end of this week to announce a rescue plan before administrators are called in.

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