Receivers for discount booze and c-store chain Cellar 5 are in advanced talks with buyers interested in taking on a “substantial” portion of the 330-strong Booze Buster estate.

Separate talks are being conducted with parties interested in the 60 Right Choice c-stores and 40-plus Wine Cellar wine merchants.

Christie & Co has been instructed to sell the balance of stores. However, a hard core of the smallest stores - understood to number between 30 and 40 - will probably have to close.