Questions remain after EFB Oddbins deal

Whittalls Wine Merchants, a subsidiary of EFB Retail, has reached an agreement to purchase 37 Oddbins stores, saving more than 200 jobs in the process at the fallen off-licence chain.

oddbins2.jpgEFB has not yet confirmed to the drinks business whether Oddbins brand name will be retained at the acquired stores, but the deal adds to EFB’s purchase of the Wine Cellar estate in November 2009.

It is understood the majority of the stores are located in Scotland and London. Though no confirmation has come from either the administrator or EFB regarding the cost of the deal, a figure in the region of £4 million has been widely mooted.

Raj Chatha, owner of EFB Group, said: “This represents a new dawn for these Oddbins stores, and with the well reported financial shackles removed, it will allow for a consistent supply of stock and investment at store level for the benefit of all, most importantly its loyal staff and consumer base.

“Our focus over the coming weeks and months will be to replenish the stores with an exciting range at competitive prices. I am also delighted with the number of jobs we have managed to save.”

Chatha has placed the continued use of the Oddbins brand name "under review".

Lee Manning, joint administrator and partner at Deloitte, added: “We are delighted to be able to announce this sale and confirm the securing of 200 jobs. We are currently engaged in a range of discussions regarding the sale of the remaining 48 open stores and are confident of an imminent deal.” 
 
Oddbins was placed into administration on 4 April 2011. The retailer, with 89 stores across the UK and Ireland, employed around 400 people.

Leave a Reply

Your email address will not be published. Required fields are marked *

Please note that comments are subject to our posting guidelines in accordance with the Defamation Act 2013. Posts containing swear words, discrimination, offensive language and libellous or defamatory comments will not be approved.

We encourage debate in the comments section and always welcome feedback, but if you spot something you don't think is right, we ask that you leave an accurate email address so we can get back to you if we need to.