Reports that Superquinn, the 23-store Irish chain, may be on the market, is causing concern among suppliers and staff.

Unions representing the company’s 2,500 employees are seeking an urgent meeting with management in an effort to clarify the situation. And a spokesman for the Irish Farmers’ Association (IFA), whose members are among Superquinn’s main fresh produce suppliers, said it may do likewise if the uncertainty persists.

Superquinn is owned by Select Retail Holdings, a consortium of Irish businessmen and property developers, which bought the chain six years ago from its founder, Feargal Quinn, in a €450 million deal. But the Republic’s economic crisis, coupled with pressure from discounters Aldi and Lidl as austerity programmes take their toll on family budgets, have hit business hard, with its market share falling to less than seven per cent.

In recent years, the chain has been the subject of ongoing takeover speculation. Sainsbury’s, Waitrose and Asda have been mentioned as potential overseas bidders, with Dunnes Stores and the Musgrave Group, owners of the SuperValu and Centra franchises, tipped as the most likely local suitors.

The latest sale reports have been fuelled by pressure on the company over bank borrowings that are said to be around €250m, plus the recent departure of former executive chairman Simon Burke. Musgrave has again been linked to a possible purchase, but said it didn’t comment on rumours.

Superquinn is a major player in the fresh produce sector, particularly in north county Dublin, the heartland of Irish horticulture. The chair of the IFA’s potato committee, Thomas Carpenter, said suppliers were “understandably apprehensive” about the current reports and would like to see the uncertainty ended.

Gabriel Hoey, spokesman for Country Crest, another supplier, described Superquinn as “a company that takes fresh produce seriously and markets it well”. It was very loyal to suppliers and deserved their support, he said.