D-Day for Orbital
Orbital Wines' portfolio of brands will be picked up by a new company on Friday, Harpers understands.
The company, whose agencies include Stormhoek and Raats in South Africa, Walkers Pass in California, and Camden Park from Australia, went into administration last week, amid rumours of poor sales and too great an emphasis on PR and marketing.
Menzies Corporate Restructuring, the administrator in charge of Orbital's affairs, said that around 20 companies are believed to have shown an interest in taking over the agency role, although no companies have openly admitted making a bid yet.
Both Waitrose and Sainsbury's delisted Stormhoek when it discovered that Orbital had made a deal with Tesco to sell the brand at 4.99, 1 cheaper than its rivals.
And the final straw for Orbital was when The Royal Bank of Scotland refused to extend its overdraft facility, prompting Menzies to be called in.
Keywords:
Search
56-58 Church Walk, Burgess Hill, West Sussex, RH15 9AN
Registered in England No. 6646125. VAT No. 938 4452 95
