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.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children