European Food Brokers snaps up 37 Oddbins stores

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European Food Brokers, which trades as Whittalls Wine Merchants, has acquired 37 Oddbins stores as a going concern from administrators Deloitte.

Negotiations on the remaining 48 open stores are ongoing but an outcome is expected soon.

Lee Manning, joint administrator and partner at Deloitte, said: “We are delighted to be able to announce this sale and confirm the securing of 200 jobs. We are currently engaged in a range of discussions regarding the sale of the remaining 48 open stores and are confident of an imminent deal.”

Oddbins was placed into administration on 4 April 2011. The wine retailer, with 89 stores across the UK and Ireland, employed around 400 people. It had planned to restructure its debts through a company voluntary agreement (CVA).

However, the company did not receive the full support of all its creditors and, as a result, the business was left with no other option but to enter into administration.