There are also rumours that a bid of £75,000 to buy the assets of ExCellars Ltd has been lodged with the administrator – Stephen Hunt of Griffins. Apparently the offer of £75,000 is described as being 'a true value of the assets of ExCellar Ltd'.
Also, hearing that administration was imminent, Mike Awin, a partner in ABS, was able on Sunday to retrieve their stock that was in the ExCellar's Fulham shop. Then on Monday he was able to negotiate with the administrators that ABS stock couldn't be moved from the Ashtead shop until retention of title can shown. Awin was bemused that it needed six people from the administrators to be present at the Ashtead shop to establish which wines had been supplied through ABS. One had travelled up from Exeter.
I wonder how many administrators would be required to change a light bulb?
Jim's Loire also understands that the employees Baile's ExCellar shop in Paris are in limbo as apparently Baile has not yet lodged the necessary paperwork – either a dépôt de bilan or a cessation de paiement – to close the company down in France, so although the employees are not being paid they are not formally unemployed so can't receive benefits. There will be a hearing before the Conseil de prud'hommes on 6th February. One of the employees has worked for the company for 32 years – originally for Simon Baile's father Nick.