Appointed chief executive in September 2007, Yvonne Rankin joined this chain of off-licences with plans to re-shape the business by developing three distinct brands: Threshers, Wine Rack and The Local. Since 2007, 275 of its stores have been revamped as part of its Wine Rack brand update. Small convenience ranges have also been introduced into 360 The Local stores. This is the latest stage in a review of the company’s operations after it was bought by the private-equity firm Vision Capital and Pension Corporation for £95m in July 2007. In tough trading conditions, annualised sales dropped 11% to £686m in 2008.
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