Threshers fails in sell-off as creditors left high and dry

first_img KCS-content FEWER than a third of Threshers stores have reopened as off-licences after the chain folded last year, administrators revealed yesterday.Only 400 of the firm’s 1,400 stores were sold, with most being bought by small off-licence chains, said accountancy firm KPMG which is still working on the administration. The other 1,000 were returned to landlords.Off-licences have been weakened by competition from supermarkets who, because of their buying power, can afford to cut alcohol prices.First Quench Retailing, which owned the Threshers, Wine Rack, Victoria Wine, Bottoms Up and Haddows fascia, went into administration with the loss of 6,300 jobs.Diageo, one of the creditors, lost a total of £41m when it collapsed.Some of First Quench’s brand names will trade on.The Threshers, Bottoms Up, The Local and Victoria Wine brands were sold to a small property and discount stores business, SEP Properties, in the West Midlands. While The Wine Rack name was bought by London-based Venus Wine and Spirits and its shops still trade on high streets in the South East. Tags: NULL Share Monday 8 November 2010 9:14 pm whatsapp Threshers fails in sell-off as creditors left high and dry center_img More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKansas coach fired for using N-word toward Black playerthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCute Show Comments ▼ whatsapp last_img