Independence day for Threshers franchisees
posted on 18-Mar-2010
Independence day for Threshers franchisees
The administrator of First Quench Retail Ltd, KPMG, is offering surrenders of the headleases for the majority of the franchisees' stores to the landlords.
This move is viewed favourably by the majority of franchisees as it allows them to deal directly with the freeholders. Blake Lapthorn, which has represented the franchisees collectively, is now acting for franchisees individually on their property transactions.
Geoffrey Sturgess, leading the team at Blake Lapthorn, said: "We view KPMG's decision to surrender the headleases as being a sensible method of ‘rescuing' stores. Their staff and customers should be relieved that their stores are now most likely to survive."
