Cambs jobs could be at risk as drinks retailer closes 370 stores
JOBS are at risk at off-licences in Huntingdonshire after the joint administrators of First Quench Retailing announced the closure of 373 stores, resulting in 1,738 redundancies. The business, which trades as the Threshers, Wine Rack, The Local, Haddows
JOBS are at risk at off-licences in Huntingdonshire after the joint administrators of First Quench Retailing announced the closure of 373 stores, resulting in 1,738 redundancies.
The business, which trades as the Threshers, Wine Rack, The Local, Haddows, Bottoms Up and Victoria Wine brands, has a number of outlets in the district, including Godmanchester and two in St Ives.
A full list of store closures was due to be announced on Friday, November 6.
Richard Fleming, UK Head of Restructuring at KPMG, and joint administrator, said: "Unfortunately, after reviewing the viability of the store network, 373 loss-making stores are to be closed.
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"Depending on stock levels, 247 of the stores will continue to trade until November 25, with 126 trading until December 2.
"As part of the closure programme, liquidation sales will take place at each of the stores scheduled to be closed with the stock being sold off at a discount from Friday, November 6."
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He added: "The remaining stores will continue to be traded as usual while we seek a buyer. So far, we have received considerable interest in the business.
First Quench operates about 1,200 Threshers, The Local, Wine Rack, Bottoms Up, Victoria Wine and Haddows branded stores across Scotland, England and Wales and employs approximately 6,300 people.