New Superquinn bosses say takeover will not affect jobs

Superquinn's new owners said today that there will be no job losses as a result of their takeover of the supermarket chain.

Select Retail, an Irish based consortium, is paying €350m to take a controlling share in Superquinn, but the Quinn family will retain a 20% stake.

The Superquinn brand will be maintained and it is expected that an aggressive expansion plan will begin shortly.

Superquinn's new executive chairman, Simon Burke, says the consortium is ideally placed to build the business at the high-quality end of the market.