FQR refuses to comment on administration rumours
Published:  28 October, 2009

First Quench has refused to comment on speculation that it is on the brink of going into administration.

The retailer is understood to be taking advice about its future from auditor KPMG, but told OLN no decision had yet been made.

FQR said: “The board of FQR notes recent media speculation about the future of the company. It is no secret that the credit crunch has made a very competitive marketplace even more challenging. The board, in consultation with its advisers, has been actively considering a number of restructuring and strategic options for FQR and any decision will be made in the best interests of the business and its stakeholders.”

Earlier this month, FQR appointed Johan Van de Steen as its new executive chairman to oversee a new turnaround plan. At the same time owner Vision Capital injected £10 million to accelerate the strategy which centered on improving availability and operational efficiencies.




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Lifting the spirits

I were to sum up alcohol sales over Christmas 2017 in one word, it would be “gin”. At Nielsen, we define the Christmas period as the 12 weeks to December 30 and in that time gin sales were £199.4 million, which means they increased by £55.4 million compared with Christmas 2016. There’s no sign the bubble is about to burst either. Growth at Christmas 2016 was £22.4 million, so gin has increased its value growth nearly two-and-a-half times in a year. The spirit added more value to
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