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FQR owes Diageo nearly £2 million
Collapsed UK off-licence operator First Quench Retail (FQR) owed over £1.9 million to drinks giant Diageo when it went into administration in October last year, according to documents filed by administrators KPMG.
Percy Fox, one of Diageo’s wine wholesaling subsidiaries, is owed approximately £1.35 million while wine shippers Hatch Mansfield and Mentzendorff complete the top three creditors, being owed £805,623 and £490,760 respectively.
The taxman looks set to be the biggest loser, however, with FQR owing approximately £13.7 million.
Brewers such as Adnams, Greene King, Marston’s, Wells & Young’s and Fullers, Smith & Turner as well as champagne houses Laurent-Perrier and Moet Hennessy are also owed thousands, although it is currently unclear as to the scale of return to creditors.
Prior to its collapse, FQR operated a number of high street off-licence chains including Threshers, Wine Rack and Victoria Wines.
Alan Lodge, 04.10.2001