Rescue deal expected for Kwik Save

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The firm appointed restructuring experts last month to find new funding, with a deadline of Friday to complete refinancing or call in administrators.

Staff were told that Kwik Save is to close another 22 stores in a "devastating blow".

Workers arriving at the stores were told they were being made redundant and that the stores would close on Friday, said their union Usdaw.

The company announced last month it was closing 79 stores but said this week that 20 of those would reopen.

The latest news means that 81 Kwik Save supermarkets will close, around a third of the firm's total. The stores closing include those at Dunstable, Tremorfa, Bristol, Wakefield and Boston.

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

Kwik Save, sold by Somerfield last year, has been facing problems with empty shelves, a collapse of sales, and suppliers refusing to deliver, despite the rescue package and the company claiming its future was secured.

Last month's plans to close 79 stores were believed to see about 700 redundancies, leaving fewer than 150 outlets to compete in the convenience market.

An application for a winding up petition is due to be heard at Leeds High Court on Friday, but details of the rescue deal are set to be announced, aimed at saving around 1,800 jobs.