Champagne offers@High Street Kensington
There are rumours that Simon Baile and Henry Young's startling bid to buy back Oddbins from administrators Deloitte has either collapsed or is seriously shaky. Oddnonymous (Twitter), who says they have worked for Oddbins for 10 years, is clear that it has collapsed. I understand that the sales director informed the regional and area sales managers that Baile's bid had failed yesterday.
If this is the case, then their bid may have collapsed because Baile-Young have lost the confidence of their staff and suppliers or alternatively they have been unable to secure the necessary financial backing. I understand that while Baile and Young were in charge there were several unsuccessful attempts to attract external capital.
Talking to Nick James, md of Pol Roger UK, he made it clear that if Baile-Young returned they would only supply Champagne to Oddbins on a cash with order basis and the price would be raised to claw back some of the money Oddbins owes them.
