Editing Kwik Save (section)

==History==
[[File:KwikSave, Church Lane - geograph.org.uk - 350688.jpg|thumb|right|A Kwiksave branch trading in [[Pudsey]], [[West Yorkshire]], in 2007.]]

===Foundation===
It was founded as '''Value Foods''' by [[Wales|Welsh]] entrepreneur [[Albert Gubay]] on 11 May 1959 and based in [[Prestatyn]]. The company rented its first retail shop in Queen Street, [[Rhyl]], in July 1959.<ref name=irs>{{cite web|url=http://www.irs.stir.ac.uk/pdf/Working_papers/8805.pdf|title=Strategy in Retailing: the Development of Kwik Save Group plc, Page 5|access-date=30 November 2008|date=30 November 1988|publisher=Dr Leigh Sparks)|archive-date=30 July 2007|archive-url=https://web.archive.org/web/20070730135609/http://www.irs.stir.ac.uk/pdf/Working_papers/8805.pdf|url-status=dead}}</ref><ref name="guardian finch 2007">{{cite news|last=Finch|first=Julia|title=The slow demise of Kwik Save|url=https://www.theguardian.com/business/2007/jul/05/supermarkets|access-date=25 June 2012|newspaper=[[The Guardian]]|date=5 July 2007}}</ref> Further traditional shops were opened in [[Chester]] and [[Wrexham]].<ref name=irs/> In 1964, Gubay visited the United States with fellow director Ken Nicholson, and learnt about the "baby shark" method of retailing.<ref name=irs/>

Combined with ideas gained from West German retailer [[Aldi]],<ref name=irs/> the business model was based on buying a limited range of lines on favourable (net 60 or 90 days) payment terms, distributing and selling them at or below cost before the payment fell due, and using the interest on the resulting cash flow to fund the business. 

The first ''Kwik Save Discount'' branded shop opened in [[Colwyn Bay]], produced more sales than the existing supermarkets of ''Value Foods'', and by 1967, Kwik Save Discount had thirteen shops.<ref name=irs/>

Just before it was floated on to the [[London Stock Exchange]] in November 1970, the company changed its name to '''Kwik Save Discount Group Ltd'''.<ref name=irs/> In 1973, Gubay sold Kwik Save for $28 million.<ref name=forbes>{{cite web |url=https://www.forbes.com/lists/2006/10/9SNQ.html|title=Albert Gubay, The World's Richest People|access-date=30 November 2008|work=Forbes}}</ref> Gubay repeated the low price retail model using the ''3 Guys'' brand in New Zealand, Ireland and the United States.<ref name=forbes/>

===1990s===
In November 1994, Kwik Save acquired 117 supermarkets from [[Shoprite (Isle of Man)|Shoprite]], a fellow food discounter, for £45 million.<ref name=bowler>{{cite news |url=http://findarticles.com/p/articles/mi_hb5245/is_/ai_n28676490|title=Bowler says focus was wrong as 107 shops go|access-date=30 October 2009|date=9 November 1996|work=The Grocer | first=Mervyn | last=Gilbert}}</ref> The company subsequently accepted that it was focused too much on acquisitions rather than its existing operations.<ref name=bowler/> It announced the closure of 107 underperforming shops in November 1996.<ref name=bowler/>

===Merger with Somerfield===
In February 1998, Kwik Save merged with [[Somerfield (UK Retailer)|Somerfield]],<ref>{{cite web |url=http://www.foodanddrinkeurope.com/news/ng.asp?id=18040-kwik-save-weighs |title=Kwik Save weighs heavily on Somerfield results |access-date=5 May 2007|date=9 April 2003|publisher=FoodAndDrinkEurope.com (Decision News Media SAS)}}</ref> and began operating as a trading division of Somerfield Stores Ltd.

All Kwik Save shops were to be rebranded as Somerfield, but it was quickly realised that the look and feel of existing Kwik Save shops – featuring warehouse style wooden shelving, space saving small checkouts and narrow aisles – would not lend itself well to the Somerfield fascia.<ref name=theg1/> For this reason, the plan was abandoned and the best Kwik Save shops were converted, based on location and market demand, receiving a full refurbishment.<ref>{{cite web |url=http://www.thegrocer.co.uk/articles.aspx?page=articles&ID=103174 |title=Somerfield reaps benefits of refits|work=[[The Grocer]] |date=9 July 2005 |access-date=30 October 2009}}</ref> Meanwhile Somerfield's own Food Giant discount supermarkets were rebranded as Kwik Save.

===Sale of shops to BTTF===
On 27 February 2006, Somerfield Stores Ltd sold the brand and the remaining 171 shops to BTTF, an investment vehicle headed by Paul Niklas, for an undisclosed sum.<ref>{{cite news |url=http://news.bbc.co.uk/1/hi/business/4755176.stm |title=Somerfield sells Kwik Save shops |access-date=5 May 2007|work=BBC News|date=27 February 2006}}</ref> Somerfield rebranded the 102 Kwik Save locations it retained under its own name and a further 77 shops were sold to other retailers, including 19 to [[Netto UK|Netto]].<ref>{{cite web |url=http://www.thegrocer.co.uk/articles.aspx?page=independentarticle&ID=189473 |title=Somerfield sells off Kwik Save|work=[[The Grocer]] |url-status=dead |archive-url=https://web.archive.org/web/20110720184218/http://www.thegrocer.co.uk/articles.aspx?page=independentarticle&ID=189473 |archive-date=20 July 2011 |date=10 October 2006|access-date=12 November 2020}}</ref>

According to a report in ''[[PR Week]]'' in April 2006, Kwik Save hired a marketing agency in a bid to revitalise the brand and reposition it as an alternative to the leading supermarkets. Around £200,000 was allocated to [[Public Relations|public relations]] as part of a marketing brief worth £4m-£5m.<ref>{{cite news |url=http://www.accessmylibrary.com/coms2/summary_0286-15094476_ITM |title=BTTF begins Kwik Save makeover |access-date=30 November 2008|publisher=PR Week|date=21 April 2006}}</ref>

In October 2006 a £30m refinancing package from unnamed investors was partly used to purchase a further 45 shops from Somerfield. Some of those were part of the [[Competition Commission]] investigation into Somerfield's purchase of 114 [[Safeway (UK)|Safeway Compact]] shops in 2004.<ref>{{cite web |url=http://ichuddersfield.icnetwork.co.uk/0100news/0300businessnews/tm_headline=kwik-save-buys-somerfield-stores&method=full&objectid=17940859&siteid=50060-name_page.html |title=Kwik Save buys Somerfield stores |access-date=5 May 2007|publisher=icHuddersfield |date=16 October 2006}}</ref>

In December 2006, ''[[The Sunday Times (UK)|The Sunday Times]]'' reported that Kwik Save was suffering from a "sharp fall in sales and mounting losses", and was seeking another financial injection.<ref>{{cite news |url=http://business.timesonline.co.uk/tol/business/industry_sectors/retailing/article658102.ece |archive-url=https://web.archive.org/web/20110612192239/http://business.timesonline.co.uk/tol/business/industry_sectors/retailing/article658102.ece |url-status=dead |archive-date=12 June 2011 |title=Kwik Save seeks quick fix |access-date=30 May 2007|work=The Times | location=London | first=Ben | last=Laurance | date=3 December 2006}}</ref> On 22 January 2007, it was reported that Kwik Save was suffering problems over delays in payment to its major suppliers, with stocks of many core products being limited as a result.<ref>{{cite web |url=http://www.thegrocer.co.uk/articles.aspx?page=articles&ID=111986 |title=Kwik Save hit by out-of-stocks|work=[[The Grocer]] |date=22 July 2006 |access-date=30 October 2009}}</ref>

On 29 January 2007, it was reported that a new investor was about to inject £70 million into the Kwik Save business.<ref>{{cite web |url=http://www.manchestereveningnews.co.uk/business/s/234/234507_kwik_save_to_be_saved.html |title=Kwik Save to be saved |access-date=5 May 2007|publisher=Manchester Evening News (website)|date=29 January 2007}}</ref> In mid February 2007, the company announced that it had managed to source a £50 million refinancing package to revive the failing retailer. In March 2007, the £50 million deal was finalised, and Paul Niklas returned as managing director of the company. The holding company changed its name from BTTF to '''Kwik Save Limited.'''

===Shop closures===
[[File:Kwiksaveclosed.JPG|thumb|Closed branch of Kwik Save in [[Warrington]], 13 July 2007.]]
[[File:FreshXpress (Kwik Save) Fawdon.jpg|thumb|FreshXpress Fawdon during the rebranding in 2007.]]
On 29 May 2007, Kwik Save announced plans to close 79 shops with immediate effect. By 30 May 2007, all shops affected were closed. Kwik Save's market share fell from 1.2% in the twelve weeks to April 2006 to 0.2% in the same period in 2007, according to [[TNS Worldpanel]]. BBC News also reported that [[Arla Foods UK]] stopped delivering fresh milk to the Kwik Save chain in the week beginning 21 May 2007, due to "payment problems".<ref name='BBC29MAY'>{{cite news|url=http://news.bbc.co.uk/1/hi/business/6702119.stm |title=Kwik Save to close down 79 shops |access-date=29 May 2007 |date=29 May 2007 |work=BBC News }}</ref>

On 14 June 2007, Kwik Save announced plans to close a further twenty two shops with immediate effect, in order to protect them from the danger of administration. The group had now closed a third of its shops across United Kingdom, leading to up to seven hundred job losses.<ref name='BBC14JUN'>{{cite news|url=http://news.bbc.co.uk/1/hi/business/6757627.stm |title=Court delays Kwik Save decision |access-date=17 June 2007|date=15 June 2007|work=BBC News }}</ref>

On 21 June 2007, Kwik Save announced to the [[Union of Shop, Distributive and Allied Workers]] that it would not be paying staff, who were expecting to be paid the following day.<ref>
{{cite news |url=http://news.independent.co.uk/business/news/article2692545.ece |title=Kwik Save fails to pay staff wages amid refinancing battle |access-date=1 July 2007 |last=Our City Staff |date=22 June 2007 |publisher=The Independent on Sunday (independent.co.uk) |quote="Workers at the supermarket chain Kwik Save were told yesterday they will not be paid in full as the company tries to finalise a refinancing package for its remaining 145 shops" |location=London |url-status=dead |archive-url=https://web.archive.org/web/20070626032457/http://news.independent.co.uk/business/news/article2692545.ece |archive-date=26 June 2007  }}
</ref> On 6 July 2007, the company was placed into administration. Kwik Save was left with 56 shops (The store in Sutton - in - Ashfield was set alight by arsonists and subsequently demolished) and they were transferred to a new company called [[FreshXpress]], run by Irish retail entrepreneur Brendan Murtagh.<ref name='BBC5July'>{{cite news|url=http://news.bbc.co.uk/1/hi/business/6273700.stm |title=Kwik Save enters administration |access-date=17 June 2007|date=15 June 2007|work=BBC News }}</ref> 

Under the deal, all 56 shops stayed open, saving around six hundred jobs.<ref>{{cite news|url=http://news.bbc.co.uk/1/hi/business/6279474.stm |title=Kwik Save shops sold in £18m deal |access-date=6 July 2007|date=6 July 2007|work=BBC News }}</ref> Most employees of Kwik Save were unlikely to be paid, having to join other creditors to claim money they were owed from the Official Receiver, unless they were part of the 56 shops going to FreshXpress.<ref>{{cite news|url=http://news.bbc.co.uk/1/hi/business/6273700.stm |title=Administration plan for Kwik Save |access-date=6 July 2007|date=6 July 2007|work=BBC News }}</ref>

===Relaunch as convenience shop brand===
In April 2012, the ''Kwik Save'' brand was relaunched by its new owners [[Costcutter]] as a more budget oriented fascia offering for members of its [[symbol group]] of independently owned [[convenience shop]]s.<ref name='grocer_bringback' /><ref name='grocer_fascia' /> The first new shop opened in [[Little Lever]], [[Bolton]], and the company is continuing to expand.{{Citation needed|date=April 2022}} The store in Little Lever has since become a [[Spar (retailer)|Spar]].{{Citation needed|date=April 2022}}