Oddbins in administration

Deloitte has been appointed administrator to the 89-store chain. Oddbins employs 400 people and has a turnover of £75m, £2m of which is online.

Administration was inevitable after plans for a CVA fell through last week, after being rejected by creditors including HM Revenue and Customs.

It is the fourth retail administration in a week, with the ‘son of Woolworths’ chain Alworths hitting the wall, as well as menswear chain Officers Club and furniture chain Easy Living.

Oddbins’ stores are continuing to trade during the administration and staff will be paid as normal.

Joint administrator Lee Manning said he was hopeful a buyer could be found. “We are pleased to have received interest from a number of parties interested in buying the business,” he said.

It is understood the interested parties include trade buyers and private equity firms.