Threshers Announce liquation and job losses
KPMG administrators have announced the trading company of brands including the Threshers and Wine Rack off- licences are shutting 373 stores, making 1,738 staff redundant.
The closing stores will be holding liquidation sales from noon tomorrow.
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.
“Depending on stock levels, 247 of the stores will continue to trade until 25th November, with 126 trading until …
KPMG administrators have announced the trading company of brands including the Threshers and Wine Rack off- licences are shutting 373 stores, making 1,738 staff redundant.
The closing stores will be holding liquidation sales from noon tomorrow.
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.
“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 6 November.”
First Quench Retailing operates about 1,200 Threshers, The Local, Wine Rack, Bottoms Up, Victoria Wine and Haddows branded stores across Scotland, England and Wales, employing approximately 6,300 people.
Details of the stores to be closed, which will be conducting stock liquidation sales, will be available on the company’s website at www.threshergroup.com
