Somerfield deems itself attractive target

The UK’s fifth-largest supermarket chain sees itself as an attractive target, chairman John Lovering said on Wednesday.

Sales at private equity-owned Somerfield slumped last year after an arduous takeover battle, but Lovering said the retailer was turning the tables following the sale of loss-making chain Kwik Save.

“We are unashamedly growing a business that will be attractive to anyone who wants a 1,000-unit convenience store business in the UK,” stated Lovering on the fringes of a retail conference in Barcelona. “I’ve no idea when they’ll knock on my door with a big bag of money.”