Kwik Save will go into administration on Friday.
The supermarket chain is shut down more than 90 stores, with another 56 being transferred to a new company.
It is thought that the 56 stores transferred to the new company will trade as Fresh Express.
The future of Kwik Save has been uncertain since new management took over the company some 12 weeks ago.
A Manchester High Court judge was asked today (Thursday) to approve Kwik Save’s refinancing package.
Shop workers' union Usdaw told the BBC that staff in stores earmarked for closure would be "devastated" by the news.
"Our members will be feeling totally let down by Kwik Save," Joanne McGuinness, the union's national officer said.
"They have shown incredible strength and resilience in trying to keep the company alive and have had to rely on handouts from relatives. Some have faced losing their homes."
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