First Quench buyers must bid by today

13 November, 2009

Companies interested in buying all or part of the collapsed First Quench business must make a bid by the end of today (November 13).

Following today’s deadline for “indicative bids”, administrator KPMG is looking to have all final bids confirmed by next week, Ian Corfield told OLN.

“If someone comes in with a knock-out bid we reserve the right to change that timetable,” Corfield said.

KPMG is hoping to find a buyer for the whole package as a going concern.

Corfield added that “a lot of interested parties” are in the running, with “quite a high number of serious players looking at multiple site acquisitions”.

There are rumours that some sites might transfer to Whitbread, which used to own part of the business. Other potential buyers in the frame include Costcutter, Greggs bakery chain, and Raj Chatha, who recently purchased a number of Wine Cellar outlets.

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