Off-licence chain Thresher Group has been renamed First Quench Retailing, a return to the identity it had before being bought by private equity company Terra Firma Capital Partners in 2002.
A spokeswoman for the company said the move better reflected the changes that had been implemented since being taken over by Vision Capital in June last year.
"With the changes taking place within the group - in particular the development and expansion of our Wine Rack stores - we felt we needed a name that was separate from any one of our retail brands, and First Quench Retailing better represents our diversified market offering," she said.
In March the group, which owns Threshers, The Local and Wine Rack, announced a four-year plan to improve profitability, which commercial director Lloyd Stephens said is on track. Some 260 of the 369 Wine Racks will be converted to the new 'True Blue' format by Christmas, with a further 100 planned by the end of 2009.
The Local stores have been highly successful, according to Stephens. Of the 603 stores, 360 have been given a grocery range of between 250 and 300 lines, which has helped improve profitability. A limited food range of 80 to 100 lines is being trialled in 14 Threshers stores.
A spokeswoman for the company said the move better reflected the changes that had been implemented since being taken over by Vision Capital in June last year.
"With the changes taking place within the group - in particular the development and expansion of our Wine Rack stores - we felt we needed a name that was separate from any one of our retail brands, and First Quench Retailing better represents our diversified market offering," she said.
In March the group, which owns Threshers, The Local and Wine Rack, announced a four-year plan to improve profitability, which commercial director Lloyd Stephens said is on track. Some 260 of the 369 Wine Racks will be converted to the new 'True Blue' format by Christmas, with a further 100 planned by the end of 2009.
The Local stores have been highly successful, according to Stephens. Of the 603 stores, 360 have been given a grocery range of between 250 and 300 lines, which has helped improve profitability. A limited food range of 80 to 100 lines is being trialled in 14 Threshers stores.
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