Oddbins enters administration

04 April, 2011

Oddbins has formally gone into administration with Deloitte partners Lee Manning and Matthew Smith appointed as joint administrators.

Manning said: "We are pleased to have received interest from a number of parties interested in buying the business. We will continue to trade the company while seeking a sale as a going concern. Employees will continue to be paid and will be fully briefed.”

The news came after a rescue bid failed last week because HM Revenue & Customs would not agree to terms ahead of a creditors' meeting in London.

Oddbins has 89 shops and some 400 employees. Manning has said he is "very confident" that the £75 million annual turnover business will be sold as a going concern.




Bookmark this


Site Search

COMMENT

Richard Hemming MW asks: what’s the next step for indies?

In the not-too-distant future, when all humans are born with inbuilt VR headsets and Trump is Supreme Commander of the Known Universe, how will students of wine look back on the present era of retail in the UK? And, in such a dystopian world, why would anyone care?

Click for more »
Upcoming events

Polls

Is blended Scotch overshadowed by single malt in retailers?

  • Yes
  • No
  • Don't know

Facebook

Twitter