Oddbins administrators sell "substantial part" of the business

Joint administrators Duff & Phelps have confirmed they have sold of a large proportion of the Oddbins business.

Philip Duffy and Matthew Ingram, both of Duff & Phelps, have announced the sale of a substantial part of the business and assets of Whittalls Wine Merchants and associated companies which traded as Oddbins and certain other brands.

A spokesperson for Duff & Phelps said: “The sale was achieved despite the current financial situation and secured the jobs of people employed in 28 stores.”

The stores were sold to WRL and Shoosmiths LLP were the acting legal advisers on the transaction. 

The other 26 stores have closed down and redundancies have been made over the past six weeks. 

In March this year DRN reported that the administrators “remained hopeful” that they could sell a significant number of stores from the former EFB Retail empire to their preferred bidder. At the time it was expected that an announcement would be made within the month, but the current pandemic and ongoing lockdown period delayed these plans.

Related articles: