'Vipers' warning for FirstQuench
Franchisees of the collapsed Thresher and Victoria Wine off-licence chain First Quench say that they will be a 'nest of vipers' unless they are dealt with fairly.
The 49 franchise operators have lodged a bid, via law firm Blake Lapthorn, for the leases on 55 of the 800 stores being sold by administrator KPMG.
Fewer than ten parties tabled bids by Friday's deadline, according to administrator Richard Fleming.
Some of the franchisees fear their interests will get lost among those of larger groups in the chain. Since First Quench was put into administration last month, nearly 400 stores have closed.
Convenience store Costcutter, European Food Brokers - which owns Wine Cellar, bakery chain Greggs, Oddbins, Bargain Booze and restructuring specialist Gordon Brothers have all been named as contenders to buy parts.
Blake Lapthorn franchise lawyer Geoffrey Sturgess said: 'The franchisees are all independent businessmen who don't just do as they are told.
'Unless any purchaser opens negotiations with them and gets them onside, they will be dealing with a nest of vipers.'
Meanwhile, it has emerged that because of the nature of their leases, some of the stores may revert to leisure operators Whitbread and Punch Taverns, which used to own First Quench.
Both confirmed that they were working out how many stores might be affected, but it is thought to be a small number.
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