(On 4th April 2011 Oddbins Ltd, a UK national wine merchant chain, went into administration owing over £22 million including £8.6 million in tax and excise duty. Oddbins was founded in 1963. In the 1970s Dennis Ing and Nick Baile bought the company. Then in the 1980s it was bought by Seagrams, who sold it to the French drinks company Castel in 2002. In what proved to be the final change of ownership Simon Baile, Nick Baile’s son, and Henry Young acquired Oddbins in August 2008 through Ex Cellar Investments Ltd.)
Did they decide that he was trying to punch well above his weight – that he was out of his depth as subsequent events appear to bear out?
However, putting a big promotional campaign together for Christmas 2010 would doubtless have been a real challenge given the number of suppliers now declining to supply as well as those who had been supplying presumably getting increasingly concerned, angry and frustrated that their bills were not being paid despite assurances that their accounts would be settled.
Simon Baile and Henry Young