Wine Rack to continue trading as the top 13 First Quench wine stores are purchased by Venus plc.
After weeks of negotiations, Euro Strategies was able to announce that 13 of the top Wine Rack Stores had been purchased by Venus plc the leading independent wine and spirits wholesaler. As a result, the jobs of over 100 employees have been saved and customers in London and southeast England are assured that this first class local retailer of fine wines, spirits and beers will still be offering them a choice on the high street.
Laki Christoforou the Chairman of Venus said ‘The shops we are purchasing are all profitable, with excellent hard-working staff and managers and are well supported by customers in their areas. As one of the leading wine and spirit distributors in the London area, these Wine Rack stores will fit well into our existing retail and wholesale business infrastructure.
‘We are confident that Wine Rack can soon become a growing and thriving business again which is why we were interested to purchase the trading name ‘Wine Rack’ along with these 13 stores.’
Widespread coverage of the takeover was organised by Euro Strategies in the city pages of the national press as well as lead stories in all the important on-line and trade media.