Under-threat drinks stores in rent talks
THE owner of high street off-licences Threshers and Wine Rack today confirmed some of its stores faced closure if it was unable to renegotiate rents.
First Quench, which also owns convenience store chain The Local, said it was in talks with landlords over rental payments for some of its unprofitable stores.
The firm has already closed 100 Threshers outlets as part of its attempts to restructure the business.
There are Threshers shops in Newcastle and Madeley and Wine Rack outlets in Holmes Chapel and Alsager.
A spokesman for First Quench said: "If we cannot make the right agreements with the landlords then those stores will face closure."
She said she was unable to provide a figure for the number of stores involved although some reports suggest the company could close as many as 400 stores.
First Quench hopes to reduce the size of rental payments for unprofitable stores to within manageable levels, or to pay monthly rather than every three months.
A spokesman said First Quench has 276 Wine Rack stores, 366 The Local shops and 500 Threshers outlets.
The group employs about 9,000 staff.
First Quench announced a restructuring of the business in March last year and has converted 23 Threshers shops into The Locals in addition to the closures.







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