The private equity owner of Bargain Booze has abandoned its hunt for a buyer for the off licence chain.

ECI Partners today said it had “opted to retain ownership” of Bargain Booze.

The news follows an “extensive strategic review” by accountancy giant KPMG, which was called in last year to evaluate options including a sale.

“Following the completion of the review, [ECI’s] ownership of the company will continue and they look forward to developing the business,” the company said in a statement.

Bargain Booze operates over 670 franchised stores across England and Wales, generating profits of £13m in its most recent set of accounts.