First Quench Retailing, the private equity-backed owner of Threshers and Wine Rack, has gone into administration. 

First Quench Retailing, the private equity-backed owner of Threshers and Wine Rack, has gone into administration.

Acquired by London-based Vision Capital in July 2007, First Quench is now in the hands of administrator KPMG, which hopes to sell the business as a going concern ‘within a short timeframe’.

The stores will be open for business as usual, though any gift vouchers that have been issued will no longer be honoured and corporate services such as glass hire and events planning have been suspended. The company’s franchise operation is being marketed by KPMG as part of the business for sale.

Last month, First Quench’s acting chief executive Martin Healy resigned as Vision Capital announced a £10 million cash injection into the company to assist a ‘transformation programme’.

Headquartered in Welwyn Garden City, First Quench generated sales of £682 million last year. Apart from Threshers and Wine Rack, the group also owns Haddows, The Local, Bottoms Up and Victoria Wines.