This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/6710647.stm
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Off-licence chain Threshers sold | |
| (about 4 hours later) | |
| UK off-licence chain Threshers has been sold to an investment consortium led by Edmund Truell for an undisclosed sum. | |
| The chain was sold by Terra Firma, the private equity firm run by Guy Hands, with reports suggesting it had made a "slight profit" on the deal. | |
| Mr Hands bought the Thresher Group, which has about 2,000 outlets in the UK, for £225m almost seven years ago from pub groups Whitbread and Punch. | Mr Hands bought the Thresher Group, which has about 2,000 outlets in the UK, for £225m almost seven years ago from pub groups Whitbread and Punch. |
| However, the business has been facing tough competition from supermarkets. | However, the business has been facing tough competition from supermarkets. |
| Terra Firma introduced a convenience store format into some of the shops to try and revive the brand. | |
| But the sector has continued to be affected by supermarkets stocking a wider range of wines and also by "booze cruise" trips to France. | |
| The Thresher Group owns Threshers, The Local, Wine Rack and Haddows in Scotland. | The Thresher Group owns Threshers, The Local, Wine Rack and Haddows in Scotland. |
| It employs more than 2,000 people across Britain and says that more than half the UK's population live within 10 minutes walk of one of its stores. | |
| Mr Truell was the founder of the Duke Street Capital private equity firm. |