Administration for Welwyn Garden City drinks company
A WGC-BASED drinks company has gone in to administration.
Despite denying claims yesterday, First Quench Retailer (FQR), situated in Bessemer Road, has been placed in KPMG-led administration, threatening 6500 jobs across the company’s Threshers and Wine Rack businesses.
A spokeswoman said: “The Board of FQR confirms that it has appointed KPMG as administrator. The Board’s discussions with KPMG confirm that the best prospects for the business is a sale as a going concern thereby preserving as many jobs as possible.
“It is with great regret that the Board was not able to brief our colleagues prior to it being made public in the media. This was always our intention but, unfortunately, the news leaked. There is a full programme of communication which will commence from this morning to our colleagues.
“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.
You may also want to watch:
Do you work for FQR? Are you fearing for your job? Contact the newsdesk on 01707 384185.
- 1 Man drowns in Stanborough Lakes
- 2 What are the outstanding schools in Hertfordshire?
- 3 Welwyn nursery manager meets Boris Johnson at Downing Street reception
- 4 Unanimous vote to close overnight service at Welwyn Garden City Urgent Care Centre
- 5 Grant Shapps 'completely opposed' to closure of QEII Urgent Care Centre at night
- 6 New Sexy Beasts dating show for Netflix filmed in Hertfordshire
- 7 Young girl ‘shaken’ after phone placed under toilet cubicle
- 8 New free live music event set for Hertford Castle's grounds
- 9 7 top tourist attractions to visit in Hertfordshire during the summer holidays
- 10 Henry Moore Foundation in Hertfordshire appears in new Fake or Fortune? series on BBC One