THE owner of high street offlicences Threshers and Wine Rack yesterday confirmed that some of its stores faced closure if it was unable to renegotiate rents.
First Quench – which has scores of stores throughout the North-East and North Yorkshire and 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. A spokeswoman for the company said: “The reviews are taking place across the portfolio – Wine Rack, Threshers and The Local.
“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.
First Quench has 276 Wine Rack stores, 366 The Local shops and 500 Threshers outlets, employing a total of 9,000 staff.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here