Superquinn examine expressions of interest

Superquinn has confirmed that it is evaluating a number of expressions of interest from possible buyers of the supermarket chain.

The group has denied it has put the business up for sale.

The interest is understood to have come from at least six potential buyers, including British chains ASDA and Sainsburys, as well as Musgraves which owns the Supervalu and Centra chains.

Superquinn was set up by Senator Fergal Quinn in 1960 but is now owned by an Irish consortium Select Retail Holdings which acquired the chain in a €420m deal in 2005.

Superquinn which currently has a 7% share of the Irish grocery market has been engaged in an aggressive price cutting campaign in recent weeks and expects to generate sales of €680m this year.