Somerfield is still experiencing a customer exodus from its 1,400 nationwide stores. For the 13 weeks to February 5, its sales fell 8.4% with a15% decline at its remaining 350 Kwik Save stores, compared to the same period last year.
Even core Somerfield stores are losing customers, with a 2.3% decline over the quarter. Shares slumped to their lowest level ever this week at 56p.
The company has convened an extraordinary general meeting for March 6 to approve the £305m sale of 45 larger Somerfield stores announced last month.
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