Stratford’s enters administration
21st September, 2012 by Gabriel Stone
Stratford’s Wine Shippers and Merchants has gone into administration.
The company, whose agency portfolio includes Pascual Toso, Anakena, Domaines Paul Mas and Domaine Ste Michelle, reported that it had “struggled financially with eroding margins and increased cash demands, to the point that the directors of the business needed to seek a resolution to this problem.”
Although reporting that attempts were made to sell the business as a going concern, a statement from the company said that it was unable to find a suitable buyer.
Having gone into administration yesterday, Stratfords confirmed that its remaining assets have since been acquired by FE Barber, parent company of Manchester-based bottler and drinks supplier Kingsland Wines and Spirits.
The statement said that all creditors and stakeholders will be contacted by the administrator “over the course of the next week”.
The news comes in the same week that the Summertown Wine Café and Finborough Wine Café ceased trading.