Majestic Wine has unveiled a radical revamp that will see its retail business put up for sale or run down as it focuses on its faster-growing Naked Wines division.
The cash raised from selling Majestic and its 200 stores will be invested in Naked, the online-only business bought for £70m four years ago.
Rowan Gormley, chief executive, said if no buyer emerged for the Majestic business, it would be run down and unprofitable stores would be shut. About a fifth of Majestic stores are owned by the company, and these properties would be sold off.
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