The joint administrators of First Quench Retailing ("First Quench"), which trades as Threshers, Wine Rack, The Local, Haddows, Bottoms Up and Victoria Wine, have today announced the closure of a further 381 stores, including Threshers in Alderley Edge.
I went in to see the manager Alyson Flynn this afternoon who is a member of alderleyedge.com and was very supportive when we first launched the website. Alyson was obviously very upset, she had received the news via a phone call earlier today.
Alyson said “It’s a very worrying time, especially with Christmas around the corner and I’m also sad to be leaving Alderley Edge. I’ve really enjoyed working in the village and will miss all the regular customers.”
This follows an announcement on November 5th that Wine Rack would be shutting down, along with 372 other loss-making stores, as a result of the administrators’ initial review of the business.
Richard Fleming, UK Head of Restructuring at KPMG and joint administrator, said, "Unfortunately there has not been sufficient interest in these 381 stores as part of the going concern sale, so we have no option but to close them. However, we have had an enormous amount of interest in these sites from over 700 small local businesses and private individuals. Christie & Co is assisting us in assigning the leases of the remaining stores to interested buyers."
He added that "We are now in advanced talks regarding the sale of the business with a number of interested parties and have ascertained that parts of the portfolio, consisting of just over 500 stores, are of interest to these potential purchasers. These stores will continue to trade while we progress with our negotiations”.
Threshers is due to close by December 16th, the actual date will depend on stock levels, and there will be a stock liquidation sale starting on 24th November.
Like Alyson, we’re surprised there has been insufficient interest in the Alderley Edge store, especially given the vast quantity of champagne we reportedly consume in our village.
We wish Alyson and her team all the best for the future, we’ll certainly miss our local offie.
Comments
Here's what readers have had to say so far. Why not add your thoughts below.
I have worked for Thresher for 11 years and it's not really hit me yet that I won't be a Thresher Manager for much longer. I've only been in the village since March but in such a short time I have met some nice people. I will really miss working here.
I would like to say a big thanks to my team especially Geoff I will miss working with him and I'm sure he will also be missed by a lot of customers.
I would like to thank everyone for making it a pleasure to work in Alderley Edge and for the kind words people have been saying to us all since we were told we would be closed and out of jobs for christmas.
I have met some really nice people and will miss working the village.