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Thursday 21 April 2011

Oddbins: no firm news but "lots of balls up in the air"



I spoke briefly to Lee Manning this morning. He told me that things are taking longer than expected but that there might be a deal today. He wouldn't give any details saying that 'there were lots of balls in the air'. I will try to contact him later today to see if any progress has been made.

However, from comments posted on Jim's Loire recently, things appear pretty gloomy for the Oddbins' workforce with five made redundant from the warehouse yesterday. Apparently they were told that a single buyer hadn't been found and that the remaining shops would be split up.  

See also a report today in harpers.

Update@16.44: still no news – negotiations still on-going. Presumably with several parties if rumours and the harpers report is right. I guess negotations over selling batches of shops. Will anyone get the right to the Oddbins brand?
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11 comments:

  1. Anonymous21 April 2011 at 10:13

    Lots of balls in the air? Simon and Henry's, hopefully.

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  2. Jim's Loire21 April 2011 at 14:33

    Couldn't possibly comment Anon!

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  3. Anonymous21 April 2011 at 15:48

    Harpers is reporting that Baile's bid for the whole estate has fallen through, which is old news surely?:

    http://www.harpers.co.uk/news/news-headlines/10459-bid-for-full-oddbins-estate-falls-through.html

    They also mention some of the other bidders. It's not clear whether these people would trade under the Oddbins brand and/or keep the existing staff, though, which is what everyone wants to know.

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  4. Jim's Loire21 April 2011 at 16:48

    harpers also says that Baile is trying to buy some shops.

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  5. Anonymous21 April 2011 at 16:57

    Nearly 5 o'clock now. This is going to drag on till at least Tuesday isn't it?

    Happy Easter, Deloitte.

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  6. Jim's Loire21 April 2011 at 17:22

    Anon. It may do but Lee gave the impression that talking could go on into the night.

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  7. Anonymous21 April 2011 at 19:21

    And a happy easter to all of us poor sods wondering if we'll have jobs next week!

    Sure we'll be the last to know as per usual....

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  8. Anonymous21 April 2011 at 19:30

    Apparently we will be told before the weekend..

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  9. Anonymous21 April 2011 at 20:08

    More wranglings going on. Meant to be answer tomorrow. Remote stock valuations going on. Something afoot. The question is which way will the balls drop.

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  10. Jim's Loire21 April 2011 at 20:53

    Thanks anons for the various comments. Certainly my impression that the parties are likely to be in discussion until the deals are done.

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  11. Anonymous22 April 2011 at 22:19

    I really didn't enjoy telling my parents that I'd been made redundant - so imagine the froideur chez Simon Baile when his dad comes round for dinner on Sunday .....

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