Oddbins downgrades payout estimate

30 March, 2011

Accountancy firm Deloitte has revised downwards the projected dividend that would be received by Oddbins creditors if the company enters administration.

Accountancy firm Deloitte has revised downwards the projected dividend that would be received by Oddbins creditors if the company enters administration.
A payout of 13p in the pound had originally been estimated but has now been downgraded to 7.5p.
Oddbins will formally enter administration on Monday if creditors refuse to back a rescue package at a meeting in London tomorrow.
Under the terms of the rescue deal, creditors will receive 21p in the pound on money owed to them.




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Richard Hemming MW: beware inverse snobbery

Few things can bring communal pleasure so intimately as wine. Apart from a hot tub, perhaps. Sport can trigger mass jubilation, film gives us shared empathy, but wine has a nigh-unique ability to bestow conviviality among us through a shared bottle ľ which makes it especially galling that we spend so much time divided over it.

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