HMRC rejects Oddbins rescue plan

31 March, 2011

The Oddbins rescue plan – being considered by creditors in London this morning – is under serious threat after being rejected by HM Revenue & Customs.

As the biggest single creditor – owed £8.6 million in duty, VAT and PAYE according to documents associated with the company voluntray arrangement proposals under consideration – HMRC will have a big say in whether the vote eventually goes in favour of the Oddbins management team.

News of the HMRC position was fed to OLN by a creditor leaving the CVA meeting.

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