Posts Tagged ‘the local’
Deathwatch: Almost 2,000 First Quench jobs go as 373 stores close
November 5th, 2009 • 9 Comments
News is just breaking that 373 stores are to close at off licence group First Quench, with the loss of 1,738 jobs
Administrators KPMG have announced that the closures will include all six of the First Quench brands – Threshers, Wine Rack, The Local, Haddows, Bottoms Up and Victoria Wine.
Just over 900 stores will remain open with almost 5,000 staff employees remaining in their jobs, and KPMG hope to sell the remainder of the business as a going concern.
Deathwatch: Threshers’ owner in administration
October 30th, 2009 • 5 CommentsBad news if you’re an employee of First Quench, owners of Threshers, The Local, Wine Rack and Haddows – your company has gone into administration. However, for many alcohol users, the cry will probably be: “Oh, are they still going then?”
Yes they are – for now at least. Administrators KPMG say they’ll aim to save “as many jobs as possible” by selling the business as a going concern, but that’s generally what administrators say… at first.
With 1,300 stores and 6,500 employees, there could be some teary farewells said over the next weeks if KPMG are unable to flog a business that has struggled in the face of competition from supermarkets and the nagging effects of the recession.
While it’s never pleasant to see people lose their jobs, from our point of view, would any of the stores be missed if they disappeared? Even the 40% off vouchers that circulated around the net like wildfire a few years ago soon lost their lustre when we all realised that most of the stuff was way overpriced to start with.
Bitterwallet readers, tell us we’re wrong. Convince us that the world needs Threshers, The Local, Wine Rack and Haddows. Tell us why – because we love a drop or two of booze and we’re utterly stumped.
UPDATE: Earlier today, KPMG confirmed that there will be 86 redundancies at First Quench’s head office. They added that it is likely that some shops will close and further redundancies made.
