D&D Wines proceeds to liquidation immediately

It has been confirmed that D&D Wines International liquidation has begun.

PKF accountants & business advisers have confirmed to the drinks business that Kerry Bailey and Trevor Birch have been appointed independent liquidators of D&D Wines International.

The company was placed into administration on 20 April 2012, with administrators from RSM Tenon being appointed by the directors.

At the first meeting of creditors – who are owed £10.5 million –  on 29 June, the proposals presented by RSM Tenon were rejected in their entirety.

Creditors with claims totalling £7 million in value passed a resolution that the company should proceed into liquidation within 14 days and that Kerry Bailey and Trevor Birch of PKF should be appointed as Joint Liquidators.

At a Court hearing on 9 July in the Manchester District Registry, the presiding judge ordered that the company should proceed into liquidation immediately.

D&D Wines International, based in Knutsford, Cheshire was incorporated in 1989 to carry forward the business of its proprietor, who had commenced trading in 1973.

A creditors’ report earlier this year for the wine distributor showed that Champagne house GH Martel is owed £790,000 and Spanish Rioja vineyard Bodegas Muriel is owed £2.8 million. While fellow Rioja wine producer Bodegas Eguia is owed almost £1.25 million and French wine group AdVini is owed £1.28 million.

D&D Wines hit trouble after one major overseas supplier started to invoice British retailers directly, cutting the distributor out of the loop and reducing its turnover.

 

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Your email address will not be published.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.

Subscribe to our newsletters

Events Sales Executive

The Drinks Business
Central London, UK

Sale & Operations Manager

Marussia Beverages
Marylebone, London, UK

Prestige Account Manager – Europe

Jackson Family Wines
London, UK

Sales Executive

MAISON SASSY
London, GB

Head of Supplier Management - Group

Matthew Clark
London and Bristol, UK

Brand Manager – Whisky

ATOM Brands
Tunbridge Wells, UK

Brand Manager - Gin

ATOM Brands
Tunbridge Wells, UK

International Business Development Assistant

iDealwine
Paris, France with frequent trips to London office

Events Assistant

Speciality Drinks
London, UK

Pink Rosé Festival

Cannes,France
7th Feb 2018

VinoVision Paris

Paris,France
12th Feb 2018

Vinisud

Montpellier,France
18th Feb 2018
Click to view more

Champagne Masters 2017

The only Champagne blind tasting in the UK, the competition will reward the best wines in the following categories:

The Global Rosé Masters 2017

With wines from the palest of pink to almost ruby red, bone dry to almost cloyingly sweet, reductively handled to barrel-aged, as well as gently spritzy to fully sparkling.

Click to view more