Majestic Wine sale completed
The sale of Majestic Wine to US investment group Fortress has been completed along with the announcement that the wine retailer will retain all of its 190 stores and that further growth was being targeted. Under its previous ownership, there had been plans to shutter well over 100 stores which would have led to significant job losses.
John Colley who has returned to head up the Majestic business after two and half years at Kingfisher said of it: "It is the service our people provide, backed up by a range you simply cannot get anywhere else. That connection isn't what it should be - so we need to get the wines back in that our customers (and staff) love first. That isn't rocket science. Customers enjoy the connection to Majestic - to our wines, to our people, and to our stores. We want to look at ways we can grow that connection further and not peel it back. That means bricks, clicks and flicks."
The business has also unveiled its first new store at Blackheath, South London, this being the first of a number expected to be opened under the new ownership.