A FORMER off-licence manager is protesting outside accountant KPMG’s Liverpool office, after losing thousands of pounds when parent chain First Quench collapsed.

William McCarthy, who ran Threshers, in Hoylake, has begun a one-man protest outside KPMG’s home in Princes Parade on the Mersey waterfront – where he clutches a home-made sign saying “KPMG stole my shop”.

Mr McCarthy, 58, of Moreton, Wirral, agreed to sell his Threshers franchise back to First Quench last year for just under £31,000.

But when the company went into administration weeks later, he was told he would not get his money. He may now only get 1p for every £1 he was owed.

Mr McCarthy insists First Quench was already talking to KPMG, who became its administrators, when it agreed to buy the franchise. That means, he says, that KPMG has an obligation to give him the money in full.

He said: “There’s no way I’m taking £300 and walking into the sunset.”

Mr McCarthy bought the Threshers franchise in 2007, but says he soon became frustrated with First Quench about issues including the quality of its till system. He threatened to make his frustrations public and says First Quench instead agreed to buy him out.

He said they even sent a representative to Wirral in late September to hand him the documents in person, to ensure he left quickly.

He was promised payment within three weeks. But, before he was paid, First Quench went into administration on October 28.

Mr McCarthy tried negotiating with KPMG but has failed to get any money back.

Richard Fleming, UK head of restructuring at KPMG and First Quench’s joint administrator, said: “We are aware of the reason for Mr McCarthy’s protest and his claim against First Quench Retailing (FQR).

“Since FQR went into administration last October, we have fully explained the legal position and although we sympathise with his situation, we are bound by the law relating to how we are obliged to deal with the claims of unsecured creditors, of which Mr McCarthy is one.

“This means that all unsecured creditors must be treated equally, regardless of their situation.”