ADMINISTRATORS of the Threshers and Wine Rack group today warned of store closures and jobs losses following the collapse of First Quench Retailing last night.
KPMG has already made 81 redundancies at the firm’s head office in Welwyn Garden City and said it was likely further jobs would face the axe among the remaining 6,283-strong workforce.
"Unfortunately it is likely that some store closures and further redundancies will be made. Once the administrators have assessed the viability of each store, a further communication will be announced," said KPMG.
First Quench operates a total of 1,202 outlets under the Threshers and Wine Rack brands, as well as Bottoms Up, Victoria Wine and local convenience store chains The Local and Haddows.
But there are also another 86 stores - employing an estimated 430 staff - that are run as franchises and have not been placed in administration, as they operate as separate businesses owned by their own management.
KPMG confirmed none of the First Quench stores had closed yet and said it was running the business as a going concern in the hope of securing a buyer.