01438 741177         thewinesociety.com

RIP Majestic


#201

When I joined the share cost £20 with new members getting £10 credit

It doubled at the time that a number of mutuals were privatising and paying dividends to members causing a ‘goldrush’ of speculators joining mutuals with the intention of getting a windfall when it de-mutualised.

Some mutuals changed their rules to say new members had to belong for x amount of time before becoming full members, as I recall TWS swiftly doubled membership to discourage speculators


#202

Interesting, thanks for letting us know. Doubling to £40 to discourage speculation. What must the dividends have been?!?


#203

The rules still specify that shares have a nominal value of £20.


#204

Until recently the annual report’s last page had the current value of shares (by block of numbers). Their value increases over time. I understand the share can be bequeathed in ones will.


#205

First ever mailing from L&W today regarding the matter, one of reassurance…

I’m delighted to share that today, Lay & Wheeler is now an independent fine wine merchant once more.

Lay & Wheeler is now owned by Coterie Limited, and will no longer be connected with Majestic Wine nor Naked Wine plc. You will, however, continue to be able to click and collect wines from Majestic stores.

Lay & Wheeler was founded in 1854, and our new owners recognise the rich heritage which comes with our business. They are looking forward to supporting our next chapter as we work harder than ever to help you enjoy the finest of wines. After over 160 years, we’re just getting started.

This is an exciting day in the long and celebrated story of this award-winning business, and one which helps us to build and focus on what we have historically done best.

I do hope to see you at one of our tastings very soon to toast our future, doing exactly what we’ve always done, together.

Cheers…

Some more info on the matter.


#206

Was glad to receive the email - thanks for the news link


#207

Yes, I was pleased to hear that too, having quite a few bottles in storage with them. Not as regular a customer now, but still buy some.

Glad that they have retained the facility to collect wines via Majestic stores too.


#208

It’s very good news

The very slow warehouse aside, they are the only really modern and flexible fine wine platform in the UK at the moment

I suspect half of the warehouse issues are that a lot of people use them as their primary storage or as alongside TWS - I am now about 50/50 between the two