On Friday 5th of April 2024, Majestic Wine confirmed it had acquired Vagabond Wines out of administration for an undisclosed sum, saving nine of its eleven wine bars from closure and securing the jobs of 171 Vagabond staff.
The deal excludes Vagabond's two sites at Gatwick Airport and will result in the closure of an 'underperforming' Canary Wharf venue.
Vagabond asked the High Court in early March 2024 to appoint administrators, blaming legacy Covid-19 debts, cost pressures, and the forced closure of its Heathrow site for deciding to restructure the business.
The Heathrow Vagabond site opened at Terminal 5 in 2022 and was the result of a £1.3 million investment, closing in January 2024 due to the airport’s internal plans to re-configure its security.
Majestic Wines have ambitions to open more wine bars, leverage Majestic's customer relationship management capability, and further develop both companies' offerings of Wine and Spirit Education Trust (WSET) qualifications for staff and customers.
Quantuma Advisory were appointed as Vagabond’s administrators and completed balance sheet restructuring to address Covid-related debts.
Download our report on the acquisition, which includes company profiles, financial data, management commentary and strategic rationale.
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