Another Guildford Shop Threatened With Closure

Published on: 27 Mar, 2019
Updated on: 28 Mar, 2019

by Hugh Coakley

Majestic Wine Plc, which has a branch in Woodbridge Road, Guildford, has announced that it is to rebrand to Naked Wines and fund growth by “releasing capital from Majestic”. This would include asset sales and closing some of its 200 Majestic shops.

Staff in the Guildford branch, which employs four people, said that they had heard nothing about the plans other than what was in the press.

The statement said: “Where we have no choice but to close stores we will aim to minimise job losses by migration into Naked.” Details of any closures would be announced in June 2019.

Majestic Wine on the Woodbridge Road, Guildford.

The Majestic Wine share price fell by over 5% after the announcement even though the company expects to achieve its £500 million sales targets in 2019 and the forecast £11.1 million profit.

The move to focus on Naked Wines, a subscription based wine seller, aims to increase the current 40% online and 20% overseas sales.

Responses to Another Guildford Shop Threatened With Closure

Tony Ford Reply

March 29, 2019 at 4:45 pm

Add to this the shocking “new news” that the new owners of the Steamer Trading Cookshop branch at 168 High Street (ProCook) announced suddenly, this week, that it is now closing after all. The announcement came in spite of (and completely at odds with) the public statement made by KPMG – Administrators of Steamer Trading – on or about January 9 (see: http://tinyurl.com/y39yzp6j).

So sad for the local employees as well as for Guildford and its High Street. Of course, Caracoli had previously closed its premises, which were located on the top floor of the same building as Steamer Trading Cookshop, at the end of 2018.

ProCook is offering 20% off all stock prices (10% off electricals) at Guildford until the branch closes.