FreshXpress
From Wikipedia, the free encyclopedia
| FreshXpress Retail Limited | |
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| Slogan | Local, Fresh, Friendly |
| Fate | Administration |
| Predecessor | Kwik Save |
| Successor | FreshXpress (owned by FX Holdings) |
| Founded | July 2007 |
| Defunct | March 2008 |
| Location | Warrington, Cheshire |
| Industry | Retail |
| Products | Groceries |
| Key people | Brendan Murtagh Paul Niklas |
| Peak size | 600, (130 current) employees |
FreshXpress was a discount supermarket chain in the United Kingdom. It was formed in 2007 by Irish retail entrepreneur Brendan Murtagh. It existed between July 2007 and March 2008, culminating in it going into administration.
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[edit] History
[edit] From the remains of Kwik Save
In February 2007 Brendan Murtagh, a major shareholder in Cavan-based Kingspan building materials group backed 70% of a £50 million rescue plan for Kwik Save, with the Kwik Save managing director, Paul Niklas covering the remaining 30%[1]. Murtagh's son Alan had already been a director of the business before he got involved[1].
[edit] A new beginning
FreshXpress Retail Limited first had 56 stores[2], all of which were formerly Kwik Save stores before the chain went bankrupt. On 6 July 2007, 56 stores stayed open, forming FreshXpress in an £18m deal, saving around 600 jobs.[3] The FreshXpress stores officially opened on 21 July 2007[4]. Prodo assisted with the creation of the new brand[5]. In the middle of September 2007 this portfolio of stores was reduced from 56 to just 23 in the best locations[6], the closed stores were sold in chunks to Tesco, Sainsburys, and The Co-op[1].
[edit] Into administration
Between September 2007 and March 2008 more under performing FreshXpress stores were closed down, leaving just nine stores, and Mr Niklas cut his ties with the company[1]. In March 2008 FreshXpress went into administration[7][8] On 21 March David Whitehouse of Menzies Corporate Restructuring was appointed joint administrator.
[edit] The future
Another vehicle called FX Holdings, presumably backed by Murtagh, received the go ahead at Manchester Crown Court to acquire the remaining operating outlets[1]. Andrew King, a former executive at Costcutter, one of the company's suppliers is to head up the significantly slimmed-down business with 130 employees[1].
[edit] References
- ^ a b c d e f Future not so bright for discounter FreshXpress. Independent.ie (2008-04-07). Retrieved on 2008-04-19.
- ^ KPMG Press release. Kwik Save.[dead link]
- ^ Kwik Save shops sold in £18m deal. BBC News (2007-07-06). Retrieved on 2007-07-06.
- ^ A fresh face on your doorstep. FreshXpress. Retrieved on 2008-03-16.
- ^ FreshXpress Case Study. Prodo.com. Retrieved on 2008-03-16.
- ^ Store list. FreshXpress. Retrieved on 2008-03-16.
- ^ FreshXpress soon goes stale. The official website of the Union of Shop, Distributive and Allied Workers (2008-03-27). Retrieved on 2008-03-28.
- ^ Jobs to go at Teesside store. Evening Gazette (2008-04-01). Retrieved on 2008-04-04.
[edit] External links
- Official site[dead link]
- Official site [stable link]
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