Supermarket group wants quick resolution to bidding contest
Sales at Somerfield slipped 1.8 per cent across the group in the first quarter.

While like-for-like sales at the eponymous chain were 0.3 per cent ahead, Kwik Save posted a disappointing 5.7 per cent drop in like-for-likes over the period.

Total group sales rose 17 per cent in the 16 weeks to August 20 compared with the same period last year, but this reflects acquisitions activity.

Somerfield said it has been in extensive discussions with a number of parties over acquisition of the business, but said so far there has been no formal offer.

'Accordingly, the board is now seeking to bring the process to a prompt conclusion,' the retailer said. 'Despite challenging trading conditions, the board is satisfied with the group's progress. The refit and store conversion programme is continuing in line with strategy.'

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