Trade fears for First Quench
THE group behind the off-licence chain Threshers has warned they may not be able to continue as a going concern.
First Quench Group, which operates dozens of Threshers, Haddows, The Local and Wine Rack outlets in Edinburgh, has been hit by tough trading and the withdrawal of cover for some of its suppliers by credit insurers.
First Quench said: "The combination of these circumstances represent a material uncertainty that casts significant doubt upon the group's ability to continue as a going concern."
The group has posted a pre-tax loss of 30 million in the last year.
The group has already closed 162 loss making stores and is understood to want to ditch a further 400.
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Monday 13 February 2012
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