Only 400 of the 1400 Threshers stores re-opened

A year after Threshers went bust, less than a third of its 1,400 stores have been reopened as off-licences.

The national off-licence business model has been weakened by competition from supermarkets who with their immense buying power can sell booze cheaper than anyone else.

KPMG is expecting a fresh wave of retailers to go bust after Christmas as January's increase in VAT pushes strugglers over the edge.