Future uncertain for Threshers

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The Independent Online

Uncertainty surrounded off-licence group Threshers today after it emerged that its owner has closed 100 stores in the last six months and is in discussions over the future of others.

According to sources close to the company First Quench, which also owns Wine Rack and convenience store chain The Local, it is in talks with landlords over rental payments for some of its unprofitable stores.

First Quench has already closed 100 Threshers outlets as part of its attempts to restructure the business.

The source said First Quench hoped to reduce the size of rental payments for unprofitable Threshers shops to within manageable levels, or to pay monthly rather than every three months.

None of the company's other brands are thought to be affected by the move.

The Daily Mail reported today that the company could close as many as 400 stores.