2,000 jobs to go with more First Quench closures
NEARLY 2,000 jobs will go after administrators handling Threshers’ owner First Quench earmarked a further 381 shops for closure.
The business, which also trades as Wine Rack, The Local, Haddows, Bottoms Up and Victoria Wine, is already shutting 373 shops.
Some 19 North West shops employing 88 staff are to close. The latest round of redundancies will also affect 34 staff at First Quench’s head office in Herfordshire.
Joint administrator Richard Fleming, of KPMG, said there had not been enough interest in the shops to include them in a going concern sale, but he had received around 700 enquiries relating to specific branches.
KPMG is working with the property agent Christie & Co to assign leases to interested buyers.
He added: “We are now in advanced talks regarding the sale of the business with a number of interested parties and have ascertained that parts of the portfolio, consisting of just over 500 stores, are of interest to these potential purchasers. These stores will continue to trade while we progress with our negotiations.”
Stock sales at the affected shops will start on November 24 and they are due to close by December 16. Details of the stores are available at www.threshergroup.com.
