Fresh question marks have been raised over Oddbins’ future after the off-licence chain called in restructuring specialists to consider “strategic options”.
The independent has called in advisers from Spectrum Corporate Finance to turn the company around in the “challenging retail environment”, according to The Times.
“We are aware of certain rumours circulating about Oddbins,” said managing director Simon Baile. “As the current retail environment continues to be challenging, we have recently engaged Spectrum Corporate Finance to advise us.”
Oddbins placed 22nd on The Grocer's latest Top 50 ranking of independent grocery retailers. It has 128 stores and reported a loss of £4.6m in the year to 31 December 2009 on sales of £67.6m, down 13% during the period.
Top 50 Independent Retailers 2011 (26 February 2011)
Oddbins trials small-format Oddies (30 November 2010)
New accounts show Oddbins pre-tax loss (9 October 2010)