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Monday 1 September 2014

Baile blames Castel for Oddbins woes

28th March, 2011 by Alan Lodge - This article is over multiple pages: 1 2 3 4

Oddbins managing director Simon Baile has laid the blame for the troubled off-licence chain’s potential collapse firmly at the feet of the company’s previous owners.

simonbaile.jpgBaile, who applied to place the company into administration on Friday as it awaits the outcome of a creditors’ vote on a Company Voluntary Arrangement, claims that while Oddbins is still owed money by Castel over issues relating to the takeover in 2008, the company is also having to cover overheads and “drag” that, he claims, Oddbins should not be having to pay for.

“We’ve only just found out about a shop that closed years ago and yet we are still paying for,” Baile told the drinks business. “There is a lot out there that has really dragged the company back.”

Despite the fact Oddbins is on the verge of financial collapse, Baile insists that he and his team have been steering the business in the right direction since acquiring the loss-making chain two-and-a-half-years ago.

“We started to really make inroads into bringing Oddbins back to its roots,” he said. “Like-for-like sales were on the increase and we have been generating significant media coverage. All that says to me that we have been going in the right direction.”

Oddbins has only turned a profit once in the past seven years and, though Baile has cut losses during his time at the helm, this is showing few signs of changing.

Most recent accounts for the company showed that it turned over £67 million in the year to the end of December 2009, with pre-tax losses of £4.5m, an improvement on the previous year’s pre-tax losses of £6.2m.

No Responses to “Baile blames Castel for Oddbins woes”

  1. Incredulous says:

    Why is it that poor performing CEO’s blame everyone but themselves ? After two and a half years, Mr Baile is still balming Castel.
    Oh, and he is blaming the weather. You know your business is in trouble and fundamentally flawed when a change in weather can send you into administration. Clearly, the business is broken.

  2. Amy says:

    Hahaa i agree with you Mr/Mrs Incredulous! Mr Baile has perpetually let the company down, and in several reports is said to have not paid suppliers a penny since he has been in charge of the company!

    One thing is for sure, ‘emotion’ doubtless doesn’t come into it, as i’m sure Mr Baile will be have prime cuts of steak on his table indefinately!

  3. letdownbyoddbins says:

    I agree too!! this man has got no idea what is doing. the only thing he has done so far….nothing oh yes spending money which I believe does not belong to him.

  4. letdownbyoddbins says:

    Mr. baile has done a good jod for Oddbins spending money which I believe does not belong to him.

  5. shodbins says:

    What I abhor is the fact of him blaming the weather and Castel constantly, when in actual fact it was the lack of anything customers needed over the Christmas period, not the weather. Yes i am sure shops experienced less footfall but its the fact that we could not provide them with anything Christmas orientated, there was no Port in stock is a prime example, this should have been in stock at the start of October/November, there is loads now, which is a joke. This has nothing to do with Castel or the weather, it has everything to do with bad management and greedy business men. There is no space for emotion you say Baile, I understand full well that businesses suffer and people have to be laid off in times like this but how about you show your staff some consideration, people who have dedicated their lives to Oddbins have not even received a phone call to thank them for their hard work after so many years. No there may not be space for emotion but there is something called respect which you and your sidekick have lacked throughout all of this. Shame on you both.

  6. Baileoutindeed says:

    I am more interested in questions of legality. Vans shifting stock furiously from Oddbins warehouse and taking it to Ex-Cellar. Is this allowed? Baile owns both – how much does Ex-Cellar ‘owe’ Oddbins and for what exactly?

  7. ItsGoingDownITellU says:

    If thats true, its completely shocking. If u have a look at their ex-cellar website loads od oddbins stock on it

  8. ItsGoingDownITellU says:

    If it is true that is completely shocking, they know already they are going down. Is it a criminal offence?, practically already stripping the company down already?

  9. Letdownbycasteloddbinsetal says:

    Will a core of stores be able to trade as Oddbins. The stock etcetera belongs to the creditors and should be accounted for. They will sell it at rock bottom and the profitable branches can also be sold at rock bottom wont they? Is this possible or will the new company if trading as oddbins be liable for current debts.

    What happens because you can bet someone is waiting in the wings to profit from this….The current owners bought a real headache from the last owners and now everyone is suffering but i bet it comes back lean and mean with new owners not saddled with the debts or mistakes of past owners….This lot were mad to buy oddbins in the state it was and i bet Castel are the ones that are truly laughing all the way to the bank.

  10. Letdownbycasteloddbinsetal says:

    Not sure if my last comments were accepted. Please excuse any repetition.

    I expect someone is waiting in the wings to buy up stock and shops for a song and keep the profitable stores going. But can they trade as oddbins or will that make them liable for current debts?

    Current stock belongs to the suppliers and creditors surely.

    Someone always profits from disaster, not the current owners i expect but the vultures lieing in wait. The current owners bought a pup and i bet castel are laughing all the way to the bank that they got rid and have no blood on their hands when really the chain should have gone to the wall before the current saps bought it. They should have waited for Castel to fail and then gone in and revived it after administration. Now they will be pilloried by the trade.

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