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Cockburn's of Leith rescued

Published:  04 February, 2010

The Cockburn's of Leith name will survive thanks to a deal between its administrators and Edinburgh Wine Importers.

The 18th century business has been acquired by its former rival in a move which includes some debts and stock.

Cockburn's called in Ernst & Young a week ago after recessionary trading conditions brought the company to its knees.

EWI is owned by Sir David Murray, an entrepreneur with a controlling interest in Glasgow Rangers FC.

Administrator Colin Dempster said: "We received a significant amount of interest in Cockburn's of Leith and are pleased to have concluded a successful sale in a short timescale.

"To have safeguarded the historic name of Scotland's oldest wine wholesaler is a great result."