Posts Tagged ‘the local’
Bad news if youâ€™re an employee of First Quench, owners of Threshers, The Local, Wine Rack and Haddows â€“ your company has gone into administration. However, for many alcohol users, the cry will probably be: â€śOh, are they still going then?â€ť
Yes they are â€“ for now at least. Administrators KPMG say theyâ€™ll aim to save â€śas many jobs as possibleâ€ť by selling the business as a going concern, but thatâ€™s generally what administrators sayâ€¦ 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 itâ€™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 weâ€™re wrong. Convince us that the world needs Threshers, The Local, Wine Rack and Haddows. Tell us why â€“ because we love a drop or two of booze and weâ€™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.