Credit insurer Coface has withdrawn cover for suppliers to First Quench, the parent of wine retailer Threshers.

Threshers revealed last month that it is poised to close up to 400 of its Threshers, Wine Rack and The Local stores.

A spokesman for First Quench said: “First Quench Retailing continues to engage in long-standing relationships with our suppliers, which ensures that our supply lines are not disrupted.”

First Quench is in talks with its landlords to renegotiate the rents on many of its stores.

Some landlords have been asked to accept rent payments reduced by more than two thirds. The group is also asking to pay its rents monthly.

Topics