Deathwatch: Threshers’ owner in administration
Bad 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.