Wine Cellar appoints boss

20 April, 2007

Wine Cellar has appointed an acting chief executive while it recruits a long-term successor to managing director Paul Gaskell, who recently left the 185-strong off-licence chain (OLN, April 6).

Carole Ormerod has 15 years' experience in the drinks and retail sectors, having been finance, commercial and managing director at Greenalls.

A spokesman for the business - best known for Booze Buster and Simply Drinks - said trading was going "from strength to strength" and the company had "confidence in future growth and profitability" despite recently-published accounts reporting a 2.2 million operating loss in the year to Jan 29, 2006.

"The company had an excellent Easter. The shareholders have now significantly increased their investment in the business, effectively bringing Wine Cellar's net assets to in excess of 3 million.

"We are now aiming to further accelerate the growth of the company. Two new stores will be opened in the coming weeks, trading under the Simply Drinks and Simply Food & Drinks fascias. Further investment in our existing estate is also taking place this year.

"Wine Cellar remains ambitious about its long-term prospects and growth potential in the off-licence and convenience retailing sector."

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