Conviviality said it “continues to pursue opportunities” to find a buyer for its retail arm after confirming the sale of Matthew Clark and Bibendum PLB to C&C Group. Bargain Booze and Wine Rack workers and franchisees remain in limbo after the group collapsed following a string of financial calamities. Conviviality was divided into Conviviality Direct and Conviviality Retail, and C&C Group has only acquired the…

The accountancy watchdog could probe Conviviality after the chairman of the parliamentary work and pensions committee called for an investigation into the “mess” that paralysed the firm. The Bargain Booze, Wine Rack, Matthew Clark and Bibendum owner will slip into administration within nine working days after a string of financial mishaps, oversights and errors. Frank Field MP said Conviviality’s auditor, KPMG, must answer questions for…

Bargain Booze is trending on Twitter after parent company Conviviality announced it will slip into administration following a calamitous fortnight. The group, which also owns Wine Rack, Bibendum and Matthew Clark, failed to secure emergency funding to shore up its ailing finances. Thousands of jobs are at risk, investors have suffered crippling losses and the drinks industry’s supply chain has been plunged into chaos.                                              …

Bargain Booze owner Conviviality has failed to raise the £125 million it needed to shore up its finances and prevent it from going under. It is now careering towards administration and said it is in talks to sell off all or parts of the business to interested parties. It added that shareholders in the group would receive “little-to-nil” value in their investment. More than 3,000…

Bargain Booze owner Conviviality has announced it will be “unable to trade as a going concern” unless it can raise £125 million to shore up its finances. The group, which also owns Wine Rack, Matthew Clark and Bibendum, has scheduled make or break meetings with potential investors in the coming days. It needs the money to settle a £30 million HMRC bill it overlooked, repay…

Conviviality chairman David Adams has aimed to quash fears that Conviviality will go under following a disastrous week that cost chief executive Diana Hunter her job. Adams has stepped into the role of executive chairman today and he has begun his search for a new chief executive to lead the business. He pledged that Conviviality will be around “for years to come” and shrugged off…

WSTA chairman Dan Jago expressed his sadness at the news that Diana Hunter has stepped down as Conviviality chief executive following a tumultuous week. Hunter fell on her sword after a series of financial calamities including a missed £30 million HMRC bill, a profit warning and a plummeting share price. Jago, chief executive at Berry Bros, said: “Very sad to see Diana Hunter stepping down…