Kwik Save, founded by Island-based entrepreneur Albert Gubay, is waiting to hear whether it will stay afloat this week.
A Manchester High Court judge is due to decide today whether to give the green light to a refinancing package.
The supermarket has been forced to close 81 branches and another 145 stores are under threat. Many staff have been working without pay for weeks.
Last week, workers were told the firm would go into administration unless they continued to work unpaid.
The company was founded as Value Foods by Mr Gubay in Prestatyn in 1959. Just six years later, the first Kwik Save Discount store opened in Prestatyn.
It floated on to the London Stock Exchange in 1970, changed its name to Kwik Save Discount Group and in 1973, Mr Gubay sold the company for around £14 million.
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