First Quench: 373 stores to be closed
The joint administrators of First Quench Retailing (“First Quench”), which trades as the Threshers, Wine Rack, The Local, Haddows, Bottoms Up and Victoria Wine brands, have announced the closure of 373 stores, resulting in 1,738 redundancies.
Richard Fleming, UK Head of Restructuring at KPMG, and joint administrator, commented:
“Unfortunately, after reviewing the viability of the store network, 373 loss-making stores are to be closed. Depending on stock levels, 247 of the stores will continue to trade until 25th November, with 126 trading until 2nd December.
“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 6th November.”
