Midlands-based EFB Retail Ltd has acquired 109 stores from Wine Cellar Stores, the national retail chain which went into administration last week.
The stores, currently trading under the Booze Busters, Simply Drinks and Simply Food & Drinks fascias, will join EFB’s exisiting 20-strong portfolio of Shop2Go, Drink2Go and Whittalls Wines outlets.
However a further 61 Wine Cellar stores will close, with the loss of around 320 jobs.
Nisa member EFB says it has secured the employment of around 700 members of staff at the 109 stores and Wine Cellar’s head office, and believes the purchase will add over £50m to its turnover.
“The opportunity to purchase a significant proportion of the Wine Cellar Stores portfolio of retail businesses proved too tempting to pass up,” said Raj Chatha, chief executive of EFB Group.
“It marks a serious commitment by the group to invest in the independent retail market and we hope that by saving a large number of jobs in the process it also demonstrates our very real commitment to the workforce and the communities in which the stores operate.”