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Baile confirms Oddbins interest in FQR stores
The managing director of off-licence group Oddbins has confirmed the company is interested in snapping up some of the stores belonging to failed rival operator First Quench Retail.
Simon Baile said that the demise of FQR, which operated the Wine Rack, Threshers, The Local, Haddows, Bottoms Up and Victoria Wine off-licence chains presented others in the industry with an opportunity to grow.
Baile told the drinks business: “I think there is a very good opportunity here not only for ourselves but for everyone in the industry.
“Something new is bound to emerge from all this and it is important to remember that not all of FQR’s shops are going to close.
“We’re definitely interested, but we’re not going to get drawn into a Dutch auction. We’ll only enter into discussions if we feel the price is right and the stores concerned suit our own business profile.”
Baile explained that acquiring a store is not simply a case of being handed the keys. “You have a whole raft of things to think of,” he said.
“You have the employees of the store, who have to get paid. There are landlords to think of, overheads such as energy and heating bills, then there’s local business tax and other council-related issues. You can’t rush these things through.”
FQR collapsed last month and so far administrators from KPMG have announced the closure of 754 of the group’s 1,200 stores, with the loss of 3,646 jobs in the run-up to Christmas.
Baile believes one of the biggest problems facing FQR’s stores was their inability to attract “destination” shoppers by offering something different from the supermarkets.
“If anything the FQR situation reaffirms our belief that you have to be different from the crowd,” he said.
“If you are brand-oriented, like FQR was, and the supermarkets come along selling the same brands at a cheaper price, then you have a problem. They didn’t react to it.
“One of my main priorities when I started here last August was to refresh the product range and offer something different from the supermarkets and I would say that now we have one of the best ranges on the high street.”
Alan Lodge, 25.11.2009