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Conviviality seeking buyer for retail business
UK drinks wholesaler Conviviality has said it is continuing to “pursue opportunities” for its retail business following the sale of Matthew Clark-Bibendum to the C&C Group yesterday.
Having appointed administrators from PricewaterhouseCoopers to Conviviality Brands yesterday (4 April), the company said that it was still looking for a buyer of its retail operations that include Bargain Booze and Wine Rack.
Following the appointment of administrators, Conviviality’s direct business arm, including Matthew Clark and Bibendum and several subsidiaries, were sold off to Magner’s producer C&C Group, with financial backing from brewing giant AB InBev.
In a statement sent out yesterday afternoon, Conviviality announced that according to the terms of the acquisition deal; all trade creditors to Conviviality Direct can expect to be paid in full, continuity of supply was “assured” as were the 1,900 jobs across the former Conviviality Direct business.
Further updates are expected.