HMRC refuse DVA. Oddbins into administration. Further details later.
Brief update:
Oddbins will go into administration on Monday if application is approved in High Court, London.
The potential administrator expects that the stores will continue to trade and the staff will be paid and hopes to sell company as going concern. We were told that two or three offers have been received.
Less good news for Oddbins staff who were made redundant. I suspect that the biggest hit, apart from staff made redundant, will be some of the suppliers, especially those in for large sums and who may also have been hit by Threshers and Unwins. There were some very glum faces leaving the CVA meeting this morning.
HMRC pulled plug at 4pm yesterday.
More details shortly.
The potential administrator expects that the stores will continue to trade and the staff will be paid and hopes to sell company as going concern. We were told that two or three offers have been received.
Less good news for Oddbins staff who were made redundant. I suspect that the biggest hit, apart from staff made redundant, will be some of the suppliers, especially those in for large sums and who may also have been hit by Threshers and Unwins. There were some very glum faces leaving the CVA meeting this morning.
HMRC pulled plug at 4pm yesterday.
More details shortly.
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