Editing Kwik Save (section)

===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/>