EFB Retail acquires 37 Oddbins stores

Though it is not yet clear whether the Oddbins brand name will be retained at the acquired stores, the deal adds to EFB’s purchase of the Wine Cellar estate in November 2009.

It is understood the majority of the stores are located in Scotland and London.

Raj Chatha, owner of EFB Group, said: “This represents a new dawn for these Oddbins stores, and with the well reported financial shackles removed, it will allow for a consistent supply of stock and investment at store level for the benefit of all, most importantly its loyal staff and consumer base.

“Our focus over the coming weeks and months will be to replenish the stores with an exciting range at competitive prices. I am also delighted with the number of jobs we have managed to save.”

Lee Manning, joint administrator and partner at Deloitte, added: “We are delighted to be able to announce this sale and confirm the securing of 200 jobs. We are currently engaged in a range of discussions regarding the sale of the remaining 48 open stores and are confident of an imminent deal.” 
 
Oddbins was placed into administration on 4 April 2011.  The wine retailer, with 89 stores across the UK and Ireland, employed around 400 people.

It had planned to restructure its debts through a company voluntary agreement (CVA). However, the company did not receive the support of its biggest creditor, HMRC, and as a result the business was placed into administration earlier this month.

Former owner Simon Baile last week failed in a bid to buy the whole Oddbins estate, but is now understood to be in negotiations to buy a smaller number of outlets.