More than 30 Budgens stores to close
7 March 2017
- From the section Business
A chain of Budgens stores has failed to find a buyer and will close, with the loss of 800 jobs.
The owner of the 34 stores affected – a third of Budgens outlets – was put in administration a month ago after hitting “difficult” trading conditions.
The stores, run by FROL, are spread around the country, from Dorset to Norfolk to Scotland, and were bought from the Co-op in 2016.
This does not affect the remainder of the Budgens chain.
The administrators, PwC, said they had failed to find a buyer for the FROL stores and were looking for firms to take over their leases.
Nine of the 34 closed at the weekend and the remaining 25 will shut for good over the next two weeks.
Mike Denny, joint administrator at PwC, said: “Unfortunately, we have been unable to find a buyer and it is not commercially viable to continue trading the stores.
“We are working closely with the Co-op, USDAW and the relevant government agencies to ensure that all employees receive the maximum levels of practical and financial support through the redundancy process.”
The Budgens brand is owned by food wholesale giant Booker, which is currently in the process of being taken over by Tesco.
This post was written by FSB News