Majestic in talks to buy wine bar group Vagabond in rescue deal

Majestic Wines is in talks to buy wine bar chain Vagabond from administration.

Vagabond Wines, which has 12 locations, predominantly in London, filed a notice of intention to appoint administrators earlier this month.

The chain, which allows customers to order a variety of wines from self-pouring machines, was founded in 2009 by Stephen Finch.

Sky News reported that the companies could strike a deal “within days”.

A Majestic spokesman said: “Majestic can confirm that it is exploring a deal to purchase all or part of the Vagabond Wines business.

“Majestic cannot comment further on ongoing discussions but we are hopeful of securing a deal.

“Since our acquisition by Fortress Investment Group in 2019, we have invested heavily in our growth plan, opening 16 new shops; hiring many new colleagues; supplying thousands of premium hospitality businesses through our business-to-business division; and training thousands of colleagues as one of the biggest wine educators in Europe.”

It is understood advisors from Quantuma have been advising Vagabond in order to secure a rescue deal, with a deadline for finals offers last week.

Vagabond made revenues of £7.4 million in the 2022 financial year, according to its most recent set of public accounts.