Welwyn Garden City drinks firm to close 373 stores
OVER 1,730 jobs were lost across the country today (Thursday) after a WGC-based drink company announced it is to close 373 of its stores.
KPMG, the administrators of First Quench Retailing, which has its HQ in Bessemer Road, has announced the closures resulting in 1,738 redundancies.
Shops affected include the brands Threshers, Bottoms Up, Victoria Wine and Haddows, however both The Local, on Cole Green Lane, and Wine Rack, in Welwyn village, run by First Quench, will remain open.
Richard Fleming, UK head of restructuring at KPMG, said: “Unfortunately, after reviewing the viability of the store network, 373 loss-making stores are to be closed. Depending on stock levels, 247 of the stores will continue to trade until 25th November, with 126 trading until December 2.
“As part of the closure programme, liquidation sales will take place at each of the stores scheduled to be closed with the stock being sold off at a discount from Friday November 6.”
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Details of all the stores to be closed, which will be conducting stock liquidation sales, will be available on www.threshergroup.com from noon tomorrow.
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