Deloitte upbeat in hunt for Oddbins buyer

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Oddbins has lost its battle to avoid administration and has called in accountancy giant Deloitte to lead the hunt for new funds.

Deloitte said “a number of parties” had already expressed an interest in taking over the embattled off-licence chain.

Last week HM Revenue & Customs refused to back a Company Voluntary Agreement that would have seen Oddbins pay its creditors 21p in the pound. HMRC was Oddbins’ largest creditor, owed around £8m.

“We are pleased to have received interest from a number of parties interested in buying the business,” said Deloitte partner Lee Manning, who is overseeing the administration.

“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.”

Read more
Oddbins faces administration after Customs torpedoes survival bid (1 April 2011)
WSET to allow Oddbins staff to complete diploma studies (1 April 2011)

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