// Majestic Wine could sell up to 200 stores as it shifts its focus to online amid company rebrand
// The wine retailer acquired Naked Wines in 2015 and has more than doubled in size since
Majestic Wine has announced it could sell up to 200 UK stores as it shifts its focus to its flourishing ecommerce business.
The British wine retailer has been facing increased property taxes as well as the impact of low consumer confidence in recent months.
Last month, Majestic Wine said it was looking to sell some assets and close stores, but no date had been revealed.
A company spokesman has now revealed that Majestic Wine will provide more details of its plans on June 13.
The retailer had appointed investment bank Rothschild to explore options for its UK store estate and seek potential buyers, Sky News reported.
Majestic Wine currently employs over 1000 staff and operates from 211 stores in the UK.
The retailer boasts over a million customers in the UK, US, and Australia, and last month revealed its plans to rebrand itself as Naked Wines – the online business it acquired in 2015 which has since more than doubled in size.
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