Welwyn Garden City drinks firm denies administration
A drinks company based in Welwyn Garden City has denied going in to administration
A BEVERAGE company in WGC is denying speculation that it is facing administration.
First Quench Retailing (FQR), the business that owns Threshers, The Local and Wine Rack, claims that stories in national newspapers are “rumours”.
When questioned by the WHT a spokewoman for the Bessemer Road-based brand said: “We haven’t gone in to administration. It was a rumour.”
She added: “The Board of FQR notes recent media speculation about the future of the company. It is no secret that the credit crunch has made a very competitive marketplace even more challenging. The Board, in consultation with its advisers, has been actively considering a number of restructuring and strategic options for FQR and any decision will be made in the best interests of the business and its stakeholders.”
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