BusinessBusiness RecoveryKPMG closes more First Quench stores

KPMG closes more First Quench stores

Administrations of First Quench have had to close a further 391 stores

KPMG administrators of First Quench, the beer and wine retailers, have closed
a further 391 stores resulting in 2,140 redundancies.

Richard Fleming, UK head of restructuring and joint administrator, said:
“Unfortunately, despite the initial high level of interest, it remains difficult
for buyers to complete deals in the current tough market.”

The company has managed to sell 13 stores and the Wine Rack brand as well as
a further eight to a separate buyer.

Further reading:

Threshers and Local Wine Rack binned

Related Articles

Carillion CFO blew whistle over 'sloppy accounting' months before collapse

Business Recovery Carillion CFO blew whistle over 'sloppy accounting' months before collapse

3m Alia Shoaib, Reporter
EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

10m Alia Shoaib, Reporter
Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

Business Recovery Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

1y Emma Smith, Managing Editor
Administrators from KPMG appointed to City Motor Holdings

Business Recovery Administrators from KPMG appointed to City Motor Holdings

2y Richard Crump, Writer
FRP Advisory hires new partner from KPMG

Accounting Firms FRP Advisory hires new partner from KPMG

2y Richard Crump, Writer
Former Torex CEO sues KPMG and RBS

Accounting Firms Former Torex CEO sues KPMG and RBS

2y Richard Crump, Writer
BHS enters administration as Duff & Phelps fail to find suitable buyer

Accounting Firms BHS enters administration as Duff & Phelps fail to find suitable buyer

2y Fraser Simpson, Reporter
PwC questioned over BHS ‘going concern’ audit

Accounting Firms PwC questioned over BHS ‘going concern’ audit

2y Chris Warmoll, Writer