Irish entrepreneur Brendan Murtagh is in talks with troubled British supermarket chain Kwik Save to save it from collapse.
Mr Murtagh is a director of building materials group Kingspan and sold €90m of his shares to finance a rescue package. Kwik Save's financial problems are so severe it has shut one third of its stores.
The company was seeking to postpone a court hearing that will decide the business's future. The chain had been given until today to raise new finance after lodging a notice of intention to file for administration at the courts in Manchester a fortnight ago.
Mr Murtagh wants to rebrand the chain as Freshxpress and is thought to be close to securing a rescue deal.
