Is Somerfield still going?
Is Somerfield still going?
Somerfield (/ˈsʌmərfiːld/; originally Gateway) was a chain of small to medium-sized supermarkets operating in the United Kingdom. The company also previously owned the Kwik Save chain of discount food stores….Somerfield.
| Type | Private |
|---|---|
| Defunct | 2011 (10 years ago) |
| Fate | Defunct – Purchased by Co-op Food operations and rebranded |
When did Somerfield go bust?
The company was taken over by the Co-op in 2009 in a £1.57billion deal, creating the UK’s fifth-largest food retailer. The Somerfield name was replaced by the Co-op brand in a rolling programme of store conversions which ended in summer 2011.
When did Somerfield close?
2011Somerfield / Ceased operations
Did Coop buy Somerfield?
The Co-operative Group, the UK’s largest mutual retailer, has completed its £1.565bn acquisition of the Somerfield supermarket chain.
Who bought out Somerfield?
the Co-operative Group
The Somerfield name is set to disappear from the high street after the 880-strong supermarket chain’s owners agreed to sell it to the Co-operative Group for £1.57bn.
Who bought Somerfield stores?
Who bought Somerfield?
When did Gateway become Somerfield?
The company name was changed to Gateway Corporation in 1988. The company operations were rebranded as Somerfield in 1990 with the first store being opened in Somerset. The company took over Kwik Save in 1998 in a transaction worth 473 million pounds.
Why did Kwik Save fail?
But the chain was crippled by a lethal combination of tough competition – as the big supermarkets slashed prices and introduced own-brand value lines and foreign discounters like Aldi and Lidl moved in – and straightforward bad management by a long line of directors who promised much and delivered little.
Who bought out Kwik Save?
Somerfield, which was itself bought out by a private group last November, will offload 171 of the 350 Kwik-Save stores to Back to the Future Ltd (BTTF) for a reported £200m. BTTF is headed by Paul Niklas, the former managing director of Formica, and Richard Kirk, chief executive of discount clothing retailer Peacocks.
Who brought out Kwik Save?
Billionaire Albert Gubay
Billionaire Albert Gubay, who once made a “pact with God” to leave his fortune to the church and other charities, has died at his home in Cheshire, aged 87. The entrepreneur and philanthropist founded the Kwik Save supermarket chain in 1965 before amassing a fortune in excess of £1bn.
