Business advisory firm Quantuma completed the sale of the remaining operations of Vagabond Wines Limited to Airport Retail Enterprises (ARE).
It comes after the bulk of Vagabond’s estate was acquired by wine retailer Majestic back in April.
Andrew Andronikou and Brian Burke, Quantuma’s managing directors, were appointed as joint administrators of Vagabond Wines on 15 March 2024 and traded the business, which operated from 12 sites across London, the Southeast and Birmingham, whilst they negotiated a sale.
Majestic subsequently bought nine sites, which continue to trade under the Vagabond brand.
Only the group’s ‘underperforming’ site in London’s Canary Wharf has closed as a result of the administration.
“I am delighted to have achieved such great outcomes, which all told means the preservation of in excess of 300 jobs,” says Andronikou.
“Both acquirers are well positioned to provide funding and operational expertise to support the next phases of profitable growth for the businesses.”
It is unclear whether the Gatwick sites will continue to operate under the Vagabond brand, though ARE is experienced operating third-party brands under franchise.
For example, it recently launched Pizza Express at Gatwick, which marked the casual dining brand’s first restaurant within a UK airport.