Kwik Save was bought from Somerfield in February 2006 by a consortium called Back To The Future, led by Richard Kirk, chief executive of The Peacock Group.

In March 2006, Paul Niklas was appointed managing director but left three months later. He was replaced by Andrew Villars, who also left after three months.

In December that year, the chain secured a £30m refinancing package.

A second package was secured in February 2007, when Niklas rejoined the chain as its chairman and chief executive.

Kwik Save was finally placed into administration in July last year after Manchester's High Court delayed administration for three weeks in an effort to give management time to put a rescue package together.

However, Paul Niklas and Irish entrepreneur Brendan Murtagh secured 56 of the stores to set up FreshXpress.

They kept 24 which were rebadged as FreshXpress and Niklas was appointed managing director.

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