The grocery clearance company offers dramatic savings on weekly shopping bills and has 24 stores across metropolitan Melbourne and country Victoria.

Last week it entered administration and appointed Bruno Secatore and Luke Targett from corporate and personal insolvency firm Cor Cordis.

Mr Targett said NQR stores were continuing to trade.

“We are just getting on top of all the issues that you’d expect us to encounter. Our primary hope and objective is to get the business sold as a going concern so that stores and jobs are preserved,” he said.

The first sales advert would be published in The Australian Financial Review this Saturday.

“So we’ll start to get an idea about the level of interest in buying pretty quickly,” Mr Targett said.

He said several parties had already made contact to express an interest in the company.

It was still too early to tell what went wrong at the business, but Mr Targett said they were “getting on top of it”.

“As everybody knows, it’s a competitive and tough retail market at the moment but we are just looking at what the history is and various store performances,” he said.

Mr Targett said he understood the company had entered into administration in 2009, however, at this stage administrators regarded that period as “ancient history”.

“We’re concentrating on the here and now,” he said.

Administrators had first met with store managers last Tuesday and Mr Targett said they, as well as assistant and duty managers at all stores were being kept abreast of the latest developments through a weekly teleconference.

The Kangaroo Flat store had nine staff in a mixture of full time, part time and casual positions.

Most of the chain’s approximately 350-strong workforce held casual positions.

Creditors would have their first meeting with administrators next Tuesday.