Greggs Eye Up Grove Park's Pie Potential

High street baker reportedly interested in buying Threshers stores

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High Street baker Greggs is reported to be eyeing up Threshers off-licences after the latter went into administration.

If the deal goes through, it could mean residents of Grove Park would no longer have to traipse all the way up to the High Road for their buns and pies.

According to Retail Week, Greggs' property team look at every chain that goes into administration.

Interested parties have until Wednesday 18th November to submit initial bids for First Quench which also owns Wine Rack on The Avenue as well as The Local, Bottoms Up, Victoria Wine and Haddows, to administrator KPMG.

A further 35 redundancies have been made at First Quench’s head office this week following 81 last month.

Last week, a number of Threshers’ franchisees have formed an action group to resist being bought by a buyer they view as “unfavourable”.

Speaking on behalf of the franchisees, lawyer Geoffrey Sturgess said, “Unlike employees, who always have the right to refuse to transfer to a purchaser of a business if they do not like, or disapprove of, their new boss, franchisees can, in theory, be transferred without their consent.”

However, he added, “We are pretty confident that they have the right to walk away if they do not like the purchaser. They are determined to resist any attempt to force them into a sale with which they would be unhappy."


November 17, 2009