Majestic has completed a rescue deal to buy wine bar chain Vagabond from administration. The UK’s largest specialist wine retailer confirmed talks over a potential move last month after Vagabond Wines went into insolvency. On Friday, Majestic confirmed it has completed the acquisition, which will secure the future of nine Vagabond venues and 171 workers.
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00:00 Hello, my name is Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.
00:06 Here are your business headlines for this morning.
00:09 Majestic has completed a rescue deal to buy the wine bar chain Vagabond from administration.
00:14 The UK's largest specialist wine retailer confirmed talks over a potential move last
00:19 month after Vagabond wines went into insolvency.
00:24 On Friday, Majestic confirmed it has completed the acquisition, which will secure the future
00:29 of nine Vagabond venues and 171 workers.
00:34 Bosses at Majestic said they plan to invest in Vagabond for the long term, with ambitions
00:39 to open more wine bars under the brand.
00:43 So some positive news this morning that Majestic has completed a rescue deal to buy the wine
00:47 bar chain Vagabond from administration.
00:51 My name is Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.