Musgrave cleared to buy Superquinn

THE Competition Authority has cleared the way for major food chain Musgrave to take over struggling Superquinn.

In a statement released yesterday, the authority said it was allowing the purchase — which will secure the long-term viability of Superquinn, and 2,800 jobs at the chain — and saw no grounds to stand it the deal’s way.

The Musgrave group has been seeking permission to take over Superquinn since July, when the chain’s directors dropped a legal challenge to put the business into examinership after the Musgrave Group announced plans for a €10 million fund to pay suppliers who lost money when the store went into receivership.