Job losses as Godmanchester off-licence closes
SEVEN jobs are to be lost at the Threshers off-licence in Godmanchester following the announcement that 373 off-licences across the country are to close. The joint administrators of First Quench Retailing, which trades as the Threshers, Wine Rack, The Loc
SEVEN jobs are to be lost at the Threshers off-licence in Godmanchester following the announcement that 373 off-licences across the country are to close.
The joint administrators of First Quench Retailing, which trades as the Threshers, Wine Rack, The Local, Haddows, Bottoms Up and Victoria Wine brands, announced that the closures would result in 1,738 redundancies.
The Threshers store in Post Street, Godmanchester, is one of only two off-licences in Cambridgeshire affected and will close by December 2. The two First Quench outlets in St Ives, The Local and Threshers, will continue to trade as usual.
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.
