Oddbins has unveiled a rescue plan that would see its creditors receive just 21p in the pound.

It also emerged that the beleaguered off-licence chain owes £8.6m to HM Revenue & Customs in duty, VAT and PAYE contributions.

The sum was revealed in a 17-page list of creditors published by Deloitte, which is advising Oddbins on its company voluntary agreement (CVA).

Oddbins also owes trade supplier Concha y Toro a total of £241,000, with Pernod Ricard due £89,000 and Diageo owed £84,000.

Under the terms of the proposed CVA, Oddbins will pay its creditors get just over a fifth of what they are owed over a period of 46 months.

Creditors will decide whether to accept the proposal at a meeting on 31 March. If the deal is rejected, Oddbins faces being plunged into administration.

Oddbins last week made redundant 15 of the 60 staff at its head office and has begun to close a third of its stores.

All 39 closures will be completed within two weeks, a spokeswoman for the retailer said.

Read more
Oddbins to axe a third of its stores after strategy review (8 March 2011)
Oddbins ponders options after calling in troubleshooters (4 March 2011)
Oddbins trials small-format Oddies (30 November 2010)