Oddbins set for administration

By James Halliwell

Published: 29 January, 2019

Oddbins is reportedly poised to enter administration, putting more than 500 jobs at risk.

Duff & Phelps are set to be appointed as administrators by Oddbin’s parent company European Food Brokers, which hopes to sell the chain, according to a report by Sky News on Monday afternoon.

The Guardian reported seeing an email from EFB to staff which said directors had decided its retail businesses “cannot continue in their current form”.

A spokesman for Duff & Phelps told Sky News that the “deterioration of the High Street, combined with the continuing economic uncertainty surrounding the withdrawal of the UK from the EU, has resulted in an unsustainable, tough physical retail market.

“We will endeavour to continue to operate all stores as a going concern while options are assessed for the business, including a possible sale.

“All businesses continue to trade until further notice. European Food Brokers Limited and its additional businesses continue to trade and are not part of this announcement.”

Oddbins, which has around 100 stores, including subsidiaries Wine Cellar Trading and Whittalls Wine Merchants, previously went into administration in 2011. Several stores were then bought by EFB, which is run by businessman Raj Chatha.

Oddbins, which opened for business in 1963, reportedly made a net loss of more than £4m in the 18 months to the end of July 2018.

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