The administrators of the Oddbins estate has announced the sale of 37 stores to European Food Brokers for an undisclosed sum.
Raj Chatha, head of European Food Brokers, which trades as Whittals Wine Merchants, hoped the move would help the chain expand further throughout the UK, especially London and Scotland.
“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 customer base,” he said.
Chatha expected the stores to be fully restocked and up-and-running in the coming weeks.
Oddbins was placed into administration earlier this month with its estate of 89 stores in the UK and Ireland put up for sale. This deal will save 200 jobs, half of the Oddbins total workforce.
Deloitte joint administrator Lee Manning expected the remaining stores to also be sold quite soon. “We are delighted to be able to announce this sale and confirm the securing of 200 jobs,” he said. “We are currently engaged in a range of discussions regarding the sale of the remaining 48 open stores and are confident of an imminent deal.