Joint administrators Andrew Andronikou and Brian Burke completed the sale of the two remaining sites located at Gatwick airport to Airport Retail Enterprises (UK) Limited (“ARE”) in a deal which secures the ongoing employment of all 122 staff across the two sites.
Quantuma managing directors, Andrew Andronikou and Brian Burke were appointed as Joint Administrators of Vagabond Wines on 15 March 2024 and traded the business which operated from twelve sites across London, the Southeast and Birmingham whilst they negotiated a sale. The sale of nine Vagabond sites to Majestic Wines (“Majestic”) was completed on 2 April 2024 with the Gatwick sites continuing to be traded by the Administrators.
The Vagabond rescue is the latest matter which Joint Administrators, Andrew Andronikou and Brian Burke have been engaged on. Previous assignments include advising on Leon Restaurants CVA, dealing with the designer fashion brand Ralph & Russo and the rescue of women’s clothing retailer, Select, amongst others.
Quantuma managing director and Joint Administrator Andrew Andronikou said:
“I am delighted to have achieved such great outcomes, which all told means the preservation of in excess of 300 jobs. Both acquirers are well positioned to provide funding and operational expertise to support the next phases of profitable growth for the businesses.”
