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.
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