Breaking news: 37 Oddbins shops in England and Scotland have been sold as a going concern. However, Deloitte is not yet in a position to say who the purchaser is as they will not be releasing the name until the employees have been told. I understand they will be informed this morning.
Update: Purchaser understood to be EFB (European Food Brokers) Ltd, which was set up by Raj Chatha in 1991. The company is based in Walsall. The drinks business trades under Whittalls Wines Ltd at Château Pleck in Walsall. It is believed that the Oddbins brand name has been sold separately.
Further update: Buyer is definitely EFB with brand sold off separately. Report on The Drinks Business that 200 Oddbins jobs have been saved.
More details as and when.
Update: Purchaser understood to be EFB (European Food Brokers) Ltd, which was set up by Raj Chatha in 1991. The company is based in Walsall. The drinks business trades under Whittalls Wines Ltd at Château Pleck in Walsall. It is believed that the Oddbins brand name has been sold separately.
Further update: Buyer is definitely EFB with brand sold off separately. Report on The Drinks Business that 200 Oddbins jobs have been saved.
More details as and when.
13 comments:
37 shops - that sounds like the core of the London branches (about 20) + Oxford etc + Edinburgh + Glasgow
Retail Week is reporting that the Brand has been sold seperately to the store.
I just want to close now,this is all too stressful!
Anon Unless I misunderstood Lee Manning I got the impression that the brand was sold with the shops. Will check.
Anon. Yes it would appear that the brand name has been sold separately but don't yet know to whom.
Decanter seeming to state that EFB have bought name too. But their article is a little muddy.
Things will become clearer I'm sure.
T
Is the duty on the stock going to be paid? Nice way of selling duty free stock.
Tim. Decanter did originally state that EFB had bought the name as that was the initial impression I had from Deloitte early this morning. I later clarified this with them.
warren. I wouldn't think there can be much stock left now. Presumably HMRC will get most of the fee paid for the 37 shops plus whatever the brand name fetched.
Jim, Do you know where the website is in all of this? Baile/Young did register a new company Oddbins Direct Ltd in Dec 2010. Does the site go with the brand?
Anon. Don't know what the position of Oddbins Direct is but the Oddbins website is registered under Oddbins Ltd.
The legalese about administration has been removed from the website holding page. Presumably because the new owners have already taken it over?
rodbod: The Who is? registry details appear to have changed since yesterday. Previous the registrant's address was given as Weir Road (Oddbins HQ). It is now: MESH DIGITAL LIMITED
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