Deathwatch - UK officially in recession, Threshers drinks up
You heard it here first, possibly; the UK economy has officially entered into recession. That'll come as a surprise to precisely nobody, but it does mean we can stop fannying about with calling it a "credit crunch" and "downturn". You can now sing it from the rooftops, or scream it into your pillow as you join the ever-growing queue of unemployed; we are now in a
and we're going to be here for quite some time. Boo. And it's not like you can drink to forget about your woes. Not at Threshers' prices anyway, and perhaps that's why they're looking to close unprofitable stores across the UK.
The Independent reports that some staff have been given two days' notice and were told that 400 stores are closing down. Profits are down for the chain, as folk took advantage of the cheap supermarket booze offers at Christmas. Several thousands jobs will be put at risk if the closures go ahead.
A spokeswoman for First Quench Retailing, owners of Threshers, The Local, Wine Rack and Haddows - said: "The number of stores that could close is dependent upon our capacity to reach suitable agreements with these landlords," adding that 100 stores had already closed over the past six months. Thanks to Bitterwallet reader Daniel for reading the Independent and letting us know.