Fate will be decided today
The immediate future of Kwik Save will be decided at a 10am high court hearing this morning in Manchester.

The beleaguered discount chain is believed to have tried to postpone the deadline for the administration hearing this morning, in an effort to secure fresh investment - most likely from existing investor, Irish property tycoon Brendan Murtagh.

Murtagh is believed to want to rebrand the chain Freshexpress. It is understood that any new investment could involve a pre-pack administration, which typically absolves the new owners of certain liabilities, such as leases, associated with a wind down.

Kwik Save lodged a notice of intention to file for administration at the courts in Manchester a fortnight ago. Yesterday, Kwik Save closed another 22 stores leaving it with just 145 stores. These closures were in addition to the 79 stores that had previously closed. However, in a surprising move, Kwik Save said it would re-open 20 stores earlier this week, once again highlighting its turbulent fortunes.

In February, Kwik Save had 229 stores and in the 1990s it had a turnover of more than£1 billion.