In a statement, the company said 'all stores will stay open and all the company's 6,500 employees will be paid as usual next week.
'The Board's discussions with KPMG confirm that the best prospect for the business is a sale as a going concern thereby preserving as many jobs as possible.
'The administrators have confirmed that they will be seeking to operate the business as normal whilst seeking a sale as a going concern, and this will include meeting next week's payroll.'
First Quench, which owns Threshers and Wine Rack, has appointed KPMG as administrator.
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This is just desserts and should be yet another warning to the chain retailers that are so bent on destroying the market with product at or below cost. Buy one get one free and 3 for a tenner is no way to run a business that should be selling quality not quantity. As far as I am concerned it further strengthens our position as an independent wine merchant who doesn't operate with a give away approach but prefer good old fashioned value for money, for great wine. If only the demise of the supermarkets was a realistic hope! Rob Darlison, Director- Cana Import Ltd
Upon reading Mr Darlison's comment, I have to disagree with his apparent
welcoming of FQR's demise. As an independent merchant in a town with a
Wine Rack and a Tesco within walking distance, I would hate for the Wine
Rack to close as it brings me in business!
The problem for Indies is not FQR, but it is, as Mr Darlison points out,
the supermarkets. I am sure he will agree that there is a vast gap
between a supermarket wine list and an independent wine shop, but the
chances of a long time supermarket customer wandering in to a small wine
merchant is slim. The familiar corporate look of a Threshers shop is,
to the customer, a brand they will recognise, and they are more likely
to shop there than at Mr Darlison shop or, indeed, mine.
FQR are the first step on the ladder to removing that person's wine
purchasing from the likes of Tesco and their demise would be damaging
for the UK wine retailing sector.
After FQR get the supermarket customer into a wine shop, albeit one with
a vastly limited range, it is then the Independent merchant's job to get
them out of Threshers and into their own shop, selling them better wines
and offering real value for money, unlike the 3 for 2 deals that FQR do.
Don't get me wrong, I would benefit from my local Wine Rack closing as
some of their customers would move to my shop, but then I would be on my
own fighting Tesco, and that is a much bigger enemy to defeat. Peter Wood
The Tasting Note
In response to the idiot Rob. What an absolute disgrace you are! 6,500 Possible job cuts before Christmas is an absolute nightmare for the families concerned. In terms of strengthening your position as an independent wine merchant you must be joking! Who are you? I've never heard of you!Pete Barnes
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