Fewer than a third of the 1,400 stores belonging to drink chain Threshers have reopened as off-licences a year after the firm went into administration. Administrators KPMG have admitted that only 400 of the stores have been sold, with the majority being bought by small off-licence chains. First Quench Retailing (FQR), which owned Threshers, Wine Rack, Victoria Wine, Bottoms Up and Haddows, went into administration 12 months ago and 6,300 jobs were lost. The Threshers, Bottoms Up, The Local and Victoria Wine brands were subsequently bought by SEP Properties the West Midlands-based small property and discount stores business and The Wine Rack name was bought by London-based Venus Wine and Spirits. Unsecured creditors of First Quench still owed money are expected to get 1.4p in the pound back.