THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Bibby Retail Services acquires Rhythm & Booze

Bibby Retail Services, the owner of Costcutter Supermarkets, has bought off-licence chain Rhythm & Booze out of administration.

GENERAL MERCHANDISE

Bibby Retail Services acquires Rhythm & Booze

Bibby Retail Services, the owner of Costcutter Supermarkets, has bought off-licence chain Rhythm & Booze out of administration.

BRS, the retail division of Bibby Line Group, said it is committed to restoring Rhythm & Booze to its "former glory" and is looking to expand the business.

The company is purchasing all 68 Rhythm & Booze stores from administrators Ernst & Young with 425 employees transferring with the business. This will include founder and managing director Martin Swaine who will retain his current position in the new company.

Nick Ivel, BRS director and CEO of Costcutter said: "Rhythm & Booze is a very well respected business and one that we have long admired.
 
"Under the stewardship of Bibby Retail Services we are confident that we can quickly re-establish its prominence and implement a robust business strategy that will lead to longer-term growth and expansion. We are committed to expanding our portfolio of company owned stores and this is an important deal that adds a significant number of new sites to the group."

Swaine added: "I am delighted that BRS has purchased the business and that the future of the brand and that of my loyal staff has been secured.

"BRS is committed to giving the business the support needed to revive its fortunes and I will be working closely with the new owners to ensure an effective integration of the business and to drive it forward into the future."

Established in 1993, Rhythm & Booze reported a 28% increase in sales to £50 million in the year to 30 June 2010. However profits fell 26% to £577,000 during the period. 

The 68 stores are located across Humberside, Lincolnshire, Nottinghamshire, South Yorkshire, North Yorkshire and West Yorkshire.

 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Payment Roundtable 2019
Payment Roundtable 2019
6 February 2019
The Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
The Retail Bulletin Payment Roundtable will raise debate and discussion centred on but not exclusive to improving the in-store payment process