Over 2,100 jobs to go at Threshers owner
Over 2,100 jobs to go at Threshers owner
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Friday, 27, Nov 2009 03:40
By Richard James.
Over 2,100 jobs are expected to go at First Quench Retailing, the group behind off-licence chains Threshers and Wine Rack, after administrators announced plans to cut 391 stores.
Administrators KPMG had previously announced the closure of 754 stores – with the 3,600 jobs going.
Today it was confirmed the new closures would all occur before December 20th.
Commenting, Richard Fleming of KPMG and joint administrator of First Quench, said: "It remains difficult for buyers to complete deals in the current tough market.
"However, we are still in talks regarding the sale of over 100 stores and hope to be able to make a further announcement about this shortly".
Earlier today it was announced a deal had been struck to save some of the Wine Rack stores in the south-east of England.
Venus Wine & Spirit Merchants (VWSM) has now acquired the trading name plus 13 of the 370 stores.
SEP Properties also bought eight stores from the First Quench group.