Will Majestic Wine be the next to go?

The Majestic Wine Company, which has a local store on Churchill Way, has announced plans to close a number of stores as part of a large rebrand. The chain, which also has branches in the region in Wilmslow, Warrington and Chester, will focus fully on its online subscription Naked Wines – following its takeover of the group in 2015.

How many stores are to be closed will be announced this summer, along with job losses, although chief executive Rowan Gormley said he hoped to minimise the amount of cuts.

Tough supermarket competition and weak consumer spending on the high street are said to be a factor in the decision to overhaul.

Mr Gormley said: “It is clear that Naked Wines has the potential for strong sustainable growth, and we will deliver the best results for our shareholders, customers, people and suppliers by focusing all our energies on delivering that potential.

“We also believe that a transformed Majestic business does have the potential to be a long-term winner, but that we risk not maximising the potential of Naked if we try to do both.

“Where we have no choice but to close stores we will aim to minimise job losses by migration into Naked.

“Therefore we have taken a decision to focus all of our capital and energies into delivering the long-term potential of Naked, and releasing value from Majestic.

“Our plans for doing this are well advanced, and we look forward to sharing the final details in June.”