Oddbins enters administration

04 April, 2011

Oddbins has formally gone into administration with Deloitte partners Lee Manning and Matthew Smith appointed as joint administrators.

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

The news came after a rescue bid failed last week because HM Revenue & Customs would not agree to terms ahead of a creditors' meeting in London.

Oddbins has 89 shops and some 400 employees. Manning has said he is "very confident" that the £75 million annual turnover business will be sold as a going concern.




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Wine is a liquid time capsule. Drinking older vintages not only recalls the weather conditions and winemaking styles of the past, it encourages us to reflect upon our own histories. Such reminiscence often inclines towards romanticised nostalgia. Especially after the second bottle. But looking back is a great way of learning about the future.

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