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FBC Manby Bowdler Delivers on First Quench Stores Acqusition- 21/12/2009
A team from West Midlands law firm FBC Manby Bowdler LLP has advised a Dudley-based discount off licence chain on its acquisition of 14 former Thresher and Wine Rack stores, part of First Quench which went into administration at the end of October.
Dave's Discount Stores Limited, which already has a number of retail outlets in the Midlands, has acquired the units from KPMG - First Quench Retailing Limited (In administration) and plans to continue to trade a number of its stores or ensure the continuing trade of the rest, which are located across the Midlands and South of England, as off licences, safeguarding the jobs of everyone working there.
Led by corporate partner Kam Johal, the FBC Manby Bowdler team consisted of commercial property partner Andrew Wynne and solicitor Rebecca Taylor, employment partner Tracy Worthington and associate Pete Collins, and licensing associate David Campbell.
The FBC Manby Bowdler team advised Dave's Discount Stores on the acquisition of the business goodwill, on the acquisition of all the premises, a combination of freeholds, long leaseholds and leases, and on all licensing issues.
“This acquisition has proved to be a great opportunity for Dave's Discount Stores to grow its turnover and expand its successful business model to new outlets,” said Gavin Southall, senior partner of FBC Manby Bowdler.
Ms Johal said: “As usual it was a race against time as the outlets were still trading and we needed to ensure that the goodwill was preserved. However, thanks to the size and strength of our firm, we were able to put together a team quickly and they worked speedily to get the deal done.”
With 36 partners, FBC Manby Bowdler is the fourth largest law firm in the West Midlands. It has offices in Wolverhampton, Shrewsbury, Telford, Bridgnorth and Willenhall.