Uncertainty on Threshers' future
Uncertainty surrounds off-licence group Threshers after it emerged that its owner has closed 100 stores in the last six months and is in discussions over the future of others.
According to sources close to the company First Quench, which also owns Wine Rack and convenience store chain The Local, it is in talks with landlords over rental payments for some of its unprofitable stores.
First Quench has already closed 100 Threshers outlets as part of its attempts to restructure the business.
The source said First Quench hoped to reduce the size of rental payments for unprofitable Threshers shops to within manageable levels, or to pay monthly rather than every three months.
None of the company’s other brands are thought to be affected by the move.
A national newspaper report said the company could close as many as 400 stores.
First Quench first announced its intention to restructure the business in March last year and has since converted 23 Threshers stores into The Locals.
It has also updated 276 Wine Rack stores with a new “True Blue“ colour scheme.
According to the company’s website, it owns a total of 1,500 shops - including its Haddows shops in Scotland - and employs more than 12,000 people across the UK.
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