New chairman for Threshers owner

Johan Van de Steen, who has been on the troubled retailer's board since April, has been appointed chairman. Van de Steen is an operating partner with First Quench's owner Vision Capital, prior to which he was with KKR where he was involved with businesses including Alliance Boots.

The company has also appointed former Somerfield chief operating officer John Cleland as a non-executive director. Cleland was a key figure in the turnaround of Somerfield before its sale to the Co-op earlier this year. He has also previously worked with B&Q, Walmart, Asda and Sainsbury's.

First Quench has experienced a difficult year, with a string of senior level departures and problems with supply of stock. As well as Threshers it owns Wine Rack, The Local and Haddows.