Connect with us

Hi, what are you looking for?

United Kingdom

Majestic Wines sells stores for £95 million

Majestic Wine is to sell its High Street shops for £95 million as the company moves towards online business only.

The American private equity firm Fortress is buying the stores.

It says it has secured 1,000 jobs with a commitment to keep open the 200 outlets.


Majestic had a turn-over of £300 million last year.

Recently, the company has concentrated on Naked Wines, its online division.

Majestic Chief Executive Rowan Gormley said: “I am delighted that we have managed to secure an independent future for both Naked and Majestic Retail and Commercial, allowing both companies to pursue growth by focusing on their unique propositions.”

A Fortress spokesman said: “Majestic has grown through periods of dramatic change; I know we have the recipe to do it again.

“We want to keep investing in our stores, in our people and our product – everything you can feel, touch and sip.

“After all, you cannot taste wine online.”







Latest Tweets


You May Also Like

United Kingdom

Film director Ridley Scott has recalled the death of actor Oliver Reed while making the Oscar winning blockbuster Gladiator. Scott said hard-drinking Reed “just...


The controversial Russian businessman Viktor Baturin, well-known for his years-long counterstanding with his wealthy sister Elena, widow of Moscow ex-mayor Yuri Luzhkov, is likely...

United Kingdom

The Tremeloes. Dave Munden centre Dave Munden the Tremeloes drummer – and often lead singer – with the 60s chart toppers has died. He...

United Kingdom

The Watneys Party Seven is making a comeback. The ubiquitous 70s beer was a bland fizzing bitter ridiculed by many. The drink’s insipidness helped...