Threshers owner hires KPMGas administrators
FIRST Quench Retailing, the owner of off-licence chains Thresher and Wine Rack, yesterday said that it has appointed KPMG as administrator.
The Board said it had not been able to inform colleagues and employees of impending job uncertainty before the news surfaced.
KPMG said that the “best prospect for the business is a sale as a going concern thereby preserving as many jobs as possible”.
The group, which owns 1,300 stores, had previously said it was mulling a pre-pack administration or a company voluntary arrangement but these discussions have now failed.
Threshers follows a clutch of other collapsed off-licences. Wine Seller, which had 170 convenience stores fell into administration in late September, and Unwins slumped into administration in 2005.