Majestic acquires wine bar chain Vagabond which was set to close down
9th April 2024
Vagabond Wines Limited (Vagabond) just announced that the chain has secured its future as it has been acquired by Majestic Wine.
The business, which operated from 12 sites across London, the Southeast and Birmingham, went into administration on 15th March.
Quantuma managing directors Andrew Andronikou and Brian Burke were appointed as joint administrators of Vagabond Wines.
They said: “Having successfully developed a strong brand offering and embarking upon a significant programme of investment to diversify the business from its core portfolio, the unexpected closure of one of Vagabond’s key expansion sites resulted in the business absorbing notable costs and directly impacted trading levels, resulting in a deterioration of its cash flow position.”
They added that the sale secures the future of nine Vagabond wine bars and provides clarity and job security for 171 members of staff.
The deal with Majestic excludes Vagabond sites at Gatwick Airport and Canary Wharf.
The joint administrators will continue to trade operations at Gatwick while they progress discussions with a range of stakeholders and interested parties. Operations at Canary Wharf will cease shortly, with all staff to be redeployed at other locations.
Securing long-term future of the brand
Vagabond was founded as a single wine shop in Fulham in 2010 and has since grown into a chain of wine bars.
Its bars offer more than 100 wines by the glass, which customers order using innovative tap-and-pour self-serve wine machines.
Quantuma managing director and joint administrator Andrew Andronikou said: “I am delighted to have been able to secure the long-term future of the Vagabond brand. The investment it will receive through its new strategic partnership with Majestic will drive forward its next phase of profitable growth.”
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