Several buyers signal interest in Oddbins, say administrators

FacebooktwitterredditpinterestlinkedinmailFacebooktwitterredditpinterestlinkedinmail

Oddbins administrators Deloitte has revealed it has received several enquiries from companies looking to buy the business.

Deloitte said it has also been in discussions with several interested parties to provide the necessary funding required to recapitalise the wine chain.

Oddbins operates 89 stores across the UK and Ireland and employs around 400 employees. It has an annual turnover of £75m, including £2m of online sales.

Oddbins had planned to restructure its debts through a company voluntary agreement (CVA).

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

Lee Manning and Matthew Smith, partners at Deloitte, have today been appointed Joint Administrators to Oddbins Limited and Oddbins Properties Limited.

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 whilst seeking a sale as a going concern. Employees will continue to be paid and will be fully briefed.”