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Food & drink

Majestic saves wine bar Vagabond from administration

Majestic Wine has saved bar chain Vagabond from administration, having completed its purchase of the company today.

Britain's largest wine retailer was reported to have been in talks with Vagabond administrators last month, soon after the chain slipped into insolvency.

Majestic's acquisition of the wine-centric bar means it will enter into a new area of the hospitality industry, having saved all nine sites and the jobs of 171 workers.

An underperforming site in Canary Wharf and its Gatwick airport locations have not been saved, however.

John Colley, chief executive of Majestic, said: "We are delighted to have secured this partnership with Vagabond Wines and are looking forward to working with the team to share our collective passion, expertise and love of wine.

"The completion of this deal marks the start of a long-term partnership and we are committed to investing in the Vagabond business, with the potential to open new wine bars across the UK when the right opportunities arise."

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