Trade press release

EFB Retail Ltd acquires Oddbins stores

Whittalls Wine Merchants, a subsidiary of EFB Retail, the largest family owned independent alcohol retailer in the UK, is pleased to announce that late on 25 April 2011 it reached an agreement with Lee Antony Manning and Matthew David Smith as joint administrators of Oddbins Limited to purchase the trade and assets of 37 stores.

This acquisition adds to the earlier purchase of the Wine Cellar estate in November 2009, with the added benefit of entering the new and exciting trading areas of Scotland and London. 

This acquisition has saved more than 200 in store jobs.

Raj Chatha, owner of EFB Group, said: “We are pleased to welcome Oddbins colleagues to the EFB Group and team.

“The addition to our retail estate means we can truly call ourselves a national player. 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.” 

Remaining 48 Oddbins shops
I see that the Guardian is reporting that 'Deloitte, which is handling the administration, said it was also confident of being able to announce an "imminent deal" for the remaining 48 shops that continue to trade.'

Breaking news

Raj Chatha's EFB (European Food Brokers) Retail Ltd are rumoured to be in pole position to take over a substantial number of the remaining Oddbins shops with a bid that is substantially bigger than any other bids on the Deloitte table. The deal may have been cut late Thursday night/early Friday morning.
 
Jim's Loire understands that an announcement will be on Tuesday. However, the EFB bid success has not been confirmed and should be treated as rumour although the source is well placed and has been accurate before. It has not been possible to contact the administrator at Deloitte for confirmation. 

EFB Retail Ltd was incorporated in 1996. In 2009 they acquired 109 Wine Cellar Stores, when it went into administration. In late 2009 the company mad ean unsuccessful attempt to buy 200 stores from Threshers' administrators – KPMG. The company is based in Walsall in the West Midlands.

I gather staff in Eire have received payslips for April. They have been paid until the 20th of April, although apparently had been told they would be paid up until the 28th.

Oddbins site http://www.oddbins.com/ down for 'routine maintenance'. When it is back up will it announce the change of ownership?

Correction (Sunday 24th April 11.40)
Just had a call from Lee Manning of Deloitte's to tell me that the rumour is incorrect – see next post.