Clothing retailer Peacock is set to buy Somerfield’s discount food chain Kwik Save, reports suggest.

Reports claim that the clothing retailer will confirm the purchase of between 170-200 Kwik Save stores later this week.

Further reports suggest that Peacock is planning to control 120 stores, while a consortium including Iceland, Netto, Lidl and Aldi are planning to purchase 80 stores between them.