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UK: First Quench cuts more jobs

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Administrators for First Quench Retailing, the collapsed owner of Threshers off-licences, are to cut more jobs at the group's head office.

A further 35 jobs will be cut from First Quench head office at Welwyn Garden City, administrator KPMG said today (11 November).

The move leaves the retailer with 92 head office staff, compared to 208 prior to its collapse into administration, and follows KPMG's decision to liquidate 373 of First Quench's 1,200 stores, with the loss of more than 1,700 jobs.

"The redundancies reflect the reduced need for head office staff, following the store closure programme announced last week," said joint administrator Richard Fleming, UK head of restructuring at KPMG.

KPMG is continuing its attempt to sell the majority of First Quench stores, which include Threshers, Wine Rack, The Local, Haddows, Bottoms Up and Victoria Wine.

It is thought likely that the business will be split up. "So far, we have received considerable interest in the business from a range of buyers, including trade, individual investors and private equity," said Fleming last week.

First Quench struggled with losses for more than a year prior to its collapse.

 


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