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News
Oddbins applies for administration
Oddbins has applied to be placed into administration in what the company is calling a “purely precautionary” move.
Managing director Simon Baile has today made the application in response to an unconfirmed number of winding-up applications already made by creditors of the embattled off-licence chain.
By applying for administration, Oddbins has secured itself 10 days’ protection against any winding-up orders, which will allow the creditors’ vote on the proposed Company Voluntary Agreement to take place as planned on 31 March.
British Gas is believed to be among the creditors to have issued a winding-up order against the company.
A full interview with Simon Baile will appear on this website on Monday, 28 March.
Alan Lodge, 25.03.2011
As a former employee of Oddbins of 10 years, I’m finding it pretty emotional at the moment seeing the hardship many of my friends are presently going through. However, without going into the reasons for the whole mess, I wanted to write and say how well I think ‘Drinks Business’ has covered the ongoing situation over the past month, with much more up-to-date fact and clarity than the newspapers, none of whom seem to have looked into the company’s recent history in any depth.
I hope that, however this all pans out at next week’s CVA meeting, ‘Drinks Business’ will continue with its quality coverage and write a proper investigation into what has gone wrong at Oddbins.
Another example of a business performing a “Tom Aikens” on its suppliers. Disgraceful.