Industry sources revealed the management team is already in talks with several buyers for the business.
It is understood that Somerfield's new owners, including Apax, Robert Tchenguiz investment firm R20, Barclays Capital and Icelandic investment bank Kaupthing, have entered into advanced negotiations with potential buyers to sell the struggling food chain, which could be broken up.
When Somerfield was taken over, a process was set up to convert the best-performing Kwik Save stores into the Somerfield fascia.
The owners now want to offload the remaining 270 Kwik Save stores, which are mostly in secondary locations.
Today's Retail Week reveals hard discounter Netto is interested in taking some of the stores.
Other buyers mooted include Aldi, Lidl, Baugur and Costcutter.
Press reports said Kwik Save would be worth no more than£20 million, even though its freehold property assets are worth about£200 million. It is unclear whether Somerfield's new owners have kept hold of the freehold assets.
A Somerfield spokesperson said: 'We do not comment on speculation.'
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