The sparkling wine and Rioja supplier warned that other businesses could face closure if they reduced their stock of "interesting" wines in order to offer consumers more lower-priced mainstream variants.
"First Quench Retailing's failure is a blow to the wine trade," said Bill Breen, MD at Codorníu UK. "If a buyer cannot be found, then important distribution will be lost to the wine trade and consumer choice will be reduced. It is now even more important that the likes of Majestic and Oddbins remain as specialist as possible in order to survive."
Codorníu has revamped its Viña Pomal Rioja brand (rsp: £10.99) to increase its shelf standout. The new bottle, which features more gold lettering than the old version, is available in independent wine stores from next week.