Hopes rise for Oddbins rescue

Administrators yesterday said they are hopeful of selling the off-licence chain Oddbins as a going concern after holding discussions with several interested parties.

The firm's 89 stores will continue to trade while administrators from Deloitte seek to sell the business, which employs 400 staff.

They have already held talks with parties interested in providing the funding necessary to keep the business alive, they said. Oddbins had hoped to push through a rescue deal last week that would have seen its creditors receive only some of the money they were owed, but the HM Revenue & Customs, which is owed 8 million by the chain, refused to vote for the scheme.

The retailer recently shut 39 stores in its battle to stay afloat. It is the latest victim of a suffering independent wine trade.