Majestic rescues Vagabond out of administration

Majestic has completed a deal to buy Vagabond Wines out of administration, adding nine of its wine bars to its portfolio and saving 171 jobs. Vagabond’s “underperforming” Canary Wharf site and its two Gatwick Airport bars are not part of the deal. Majestic, which is backed by Fortress Investment Group, said it would invest in the wine bar chain’s expansion. It highlighted a potential opportunity to expand the concept to new UK regions. Since Fortress bought Majestic in 2019, the retailer has opened 16 locations, taking its store count to 208. It aims to open an average of one new store every month over the coming years. Majestic chief executive John Colley said: “The completion of this deal marks the start of a long-term partnership and we are committed to investing in the Vagabond business, with the potential to open new wine bars across the UK when the right opportunities arise. “The combination of the two businesses presents exciting new opportunities for us to grow our customer base, take the Majestic brand to a younger audience and further elevate Vagabond’s product proposition by working alongside our fast-growing on-trade supply division, Majestic Commercial.”