Diageo takes biggest hit in First Quench collapse
The drinks giant Diageo has taken the hardest hit after the First Quench collapse, as figures filed by administrators KPMG reveal it was owed more than £1.9m in unpaid debts.
The drinks giant Diageo has taken the hardest hit after the First Quench collapse, as figures filed by administrators KPMG reveal it was owed more than £1.9m in unpaid debts.
Percy Fox, one of Diageo's wholesaling subsidiaries was owed £1.35m of that amount after First Quench, owners of Thresher and Wine Rack went into administration in October.
Since then KPMG has been trying to sell its 1,200 stores but so far has only sold 90, leading to the closure of hundreds of shops.
Other creditors that have suffered most in the fallout include wine shippers Hatch Mansfield Agencies which was owed £805,623 and Mentzendorff - £490,760.
Scottish & Newcastle UK has had to take a hit of £452,928, Pernod Ricard £452,327, Carlsberg UK £293,979 and First Drinks Brands £240,418.
The biggest overall loser in the collapse of First Quench Retailing has been the taxman which is owed £13.7m in unpaid alcohol duty.
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