Oddbins stores to be sold to Whittalls
Administrators for failed wine chain Oddbins have announced that 37 stores will be sold to European Food Brokers, which trades as Whittalls Wine Merchants. The deal will save 200 jobs.
As previously reported, Oddbins was placed into administration on 4 April 2011. Initially, it planned to restructure its debts through a company voluntary agreement (CVA). However, it failed to secure the full support of all its creditors and as a result the business was left with no other option but to enter into administration earlier this month.
Lee Manning, joint administrator at Deloittes, said the firm was currently in discussions regarding the sale of the other 48 stores and was “confident of an imminent deal.”
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