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Insider UK
Insider UK
Business
Hamish Burns

Oddbins shops saved from administration by mystery buyer

Most of Oddbins' stores have been rescued from administration by a mystery buyer.

The upmarket off licence chain, which still has three shops each in Edinburgh and Glasgow and two in Aberdeen, went into administration with parent company Whittalls Wine Merchants in January 2019.

Administrators Philip Duffy and Matthew Ingram, of Duff & Phelps, said a "substantial part" of the business including 28 shops had been sold. It was not confirmed which of the shops will remain open.

Oddbins once had hundreds of stores across the UK but in Scotland the remaining outlets are Edinburgh's Bruntsfield, Elm Row and Queensferry Street; Glasgow's Hyndland, Shawlands and Woodlands Road; and Aberdeen's Bon Accord Street and Rosemount. They have been closed during the lockdown as a non-essential retailer.

A spokesperson for Duff & Phelps stated: “The sale was achieved despite the current financial situation and secured the jobs of people employed in 28 stores.”

Oddbins, which was founded in 1963, was previously rescied from administration in 2011 by European Food Brokers Ltd.

Shoosmiths LLP advised on the transaction.

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