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Superquinn stabilises

SUPERQUINN'S business has begun to stabilise and a new head has been appointed to the supermarket chain.

The new owner of the company, the Musgrave Group, has created the Musgrave Operating Partners Ireland division to run the Superquinn business.

The company, which is also behind SuperValu and Centra stores, said that there are no plans for job cuts or store closures in the near future. Superquinn's former director of group finance and business development, Tim Kenny, is managing director of the new arm with responsibility for establishing the new division as well as the "integration of the Superquinn business into the wider Musgrave Group".