Oddbins was put into administration this afternoon, putting 400 jobs at risk.
A rescue deal with creditors was scuppered on Friday by HM Revenue & Customs (HMRC), leaving the privately owned wine retailer no choice but to call in Deloitte as administrators.
It is the latest in a line of failures on the high street. Last week, Officers Club, Easy Living Furniture and Alworths, a Woolworths-inspired general merchandise chain, all fell into administration.
Lee Manning, a Deloitte restructuring partner and joint administrator, said: “We are pleased to have received interest from a number of parties interested in buying the business.
“We will continue to trade the company while seeking a sale as a going concern. Employees will continue to be paid and will be fully briefed.”
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HMRC, which was owed £8.6 million in unpaid duty, was the biggest creditor. The company voluntary arrangement (CVA), under which creditors would receive an estimated 21p in the pound, required the backing of 75 per cent of creditors by value.
With HMRC’s opposition it received just 67 per cent support.
Oddbins chief executive Simon Baile had been attempting to take company upmarket to steer clear of supermarket competition.
Mr Baile has remained confident that the business has a future. Late last week he said: “A number of potential investors have come forward to buy the business, or parts of it, as a going concern and although nothing is certain we remain optimistic.”
First Quench Retailing, owner of Threshers and Wine Rack, went into administration in 2009.