The Somerfield store in Longridge looks set to be taken over by Sainsbury's.
The store was taken over by the Co-op in February as part of a £1.5bn national buy-out of 650 Somerfield stores.
Now, the Co-op has confirmed it will sell the store, off Inglewhite Road, to Sainsbury’s, subject to final approval from the Office of Fair Trading.
A major revamp and new jobs could be in the pipeline if the sale is given the go-ahead.
A spokeswoman for The Co-operative Group said: “The group has agreed to sell its Somerfield store in Longridge to Sainsbury’s.
“However, the sale is subject to the approval of the Office of Fair Trading.
“The store would be sold as a going concern and staff would automatically transfer to Sainsbury’s, with their terms and conditions of employment maintained under employment law.
“The Somerfield staff have been briefed.”
A Sainsbury’s spokesman confirmed that the company was interested in acquiring the Longridge store.
He added: “As part of the agreement, all staff would be offered jobs, as per TUPE regulations. There would also be new jobs created.”
A timescale has not been announced for the potential takeover.
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