First Quench owes £2m to Diageo - and £14m to taxman

Diageo has been named as the largest corporate creditor of collapsed Threshers owner First Quench Retailing.

The Guinness brewer is owed more than £1.9m by First Quench, most of which is due to wine wholesaling subsidiary Percy Fox.

Other major creditors in the drinks trade include Pernod Ricard, Carlsberg UK and Scottish & Newcastle – now Heineken UK.

Administrator KPMG also revealed that First Quench owes £13.7m in unpaid alcohol duty.

First Quench entered administration last October, resulting in the closure of hundreds of Threshers and The Local stores. Its Wine Rack brand was sold to drinks wholesaler Venus.