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Administrators sell 37 Oddbins stores
The joint administrators of Oddbins Limited and Oddbins Properties Limited (“Oddbins”), the famous specialist off licence chain in the UK that went into administration in April, have sold 37 stores as a going concern to European Food Brokers, which trade as Whittall’s Wine Merchants.
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 April 4. The retailer, with 89 stores across the UK and Ireland, employed approximately 400 people. It had planned to restructure its debts through a company voluntary agreement (CVA).
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 earlier this month.
