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Dublin: 7 °C Thursday 24 April, 2014

Feargal Quinn gives blessing to Superquinn sale

The founder of the Superquinn chain says he is “delighted” that the Musgrave Group is to buy the troubled supermarkets.

Feargal Quinn poses in a Superquinn supermarket in the early 1990s. Quinn sold the chain, which he founded, in 2005.
Feargal Quinn poses in a Superquinn supermarket in the early 1990s. Quinn sold the chain, which he founded, in 2005.
Image: Eamonn Farrell/Photocall Ireland

SUPERQUINN FOUNDER Feargal Quinn has given his backing to the proposed sale of the supermarket chain to the Musgrave Group.

In a statement this afternoon, Quinn – whose family sold the chain in 2005 – said he was “delighted” that an Irish family-owned business would be taking over the supermarket chain he set up in Dundalk in 1960.

Quinn expressed hope that the chain would remain a separate entity within the group, “with its own traditions and reputation for unrivalled quality and customer service being retained”.

He added that he had visited a number of Superquinn stores in recent days and found “no change in the excellent quality products and that warm, friendly customer service I have known for the past 51 years.”

A deal to sell the chain to Musgrave was confirmed just a day after it went into receivership, with reported debts of some €400m.

It was delayed for some time in court, however, when its directors tried to oppose the receivership on the basis that the supermarket’s suppliers could be forced to go without repayment for millions in debts.

That action was later dropped when Musgrave agreed to establish a €10m fund from which suppliers could be paid – something Quinn said he was “equally heartened to see”.

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