Deathwatch: Oddbins on the brink of administration

31 March 2011

retaildeathwatch Sadly and inevitably, off licence chain Oddbins has announced that it is about to go into administration after failing to reach a deal with its many creditors, including HMRC.

The move comes only a few weeks after the company announced the closure of 39 stores, but a search for a buyer is ongoing and someone from Oddbins said they were ‘optimistic’. They’re more optimistic than we are, but then we’re done in through years of abuse of the very booze that they sell.

HMRC rejected an offer from Oddbins for them to pay 21% of their debts under a Company Voluntary Agreement and now it looks as though the beleaguered off licence chain are headed the same way as First Quench (owners of Threshers), who collapsed in 2009.

With deep discounting in supermarkets big business, perhaps the specialist off licence will soon disappear from the retail map, like the candlestick-maker. Please let us know if you live near to an active candlestick-maker and we’ll amend our records accordingly.

[BBC]

TOPICS:   High Street News

4 comments

  • Alexis
    So we the taxpayer lose out on any cash, just because the HMRC would rather see 0% than 21%?
  • Clarkson
    No, HMRC will harvest the director and their immediate families bodyparts to make up the shortfall. Its only fair.
  • Martin
    Sad, Oddbins was where I first bought decent wine. They dragged the supermarkets along, but have paid the price.
  • Mark C.
    It'll be a real shame if they do go, because while they pushed the bigger supermarkets to stock decent wine and beers, the shitty local branches that are the ones really putting them out of business still carry an abysmal selection. The Tesco Metro near me stocks maybe a dozen varieties of wine, of which a quarter are on special and hence always out of stock, and the rest are heading on for a tenner, which is way too expensive for when I'm planning an evening's sitting in the bus shelter, rambling incoherently at passers-by.

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