Posted: Wed 28th Mar 2018

Bargain Booze heading for administration according to reports

News and Info from Deeside, Flintshire, North Wales
This article is old - Published: Wednesday, Mar 28th, 2018

According to Sky News up to 2,600 jobs are at risk as the owner of Bargain Booze heads for administration. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

Conviviality Retail, the UK’s largest franchised off-licence and convenience chain owns Bargain Booze, they have failed in a bid to raise £135m to save the company from administration. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

The development is likely to lead to PricewaterhouseCoopers being appointed as administrator on Thursday, according to Sky News. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

The report goes onto to say: ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

‘It comes just days after Conviviality confirmed the departure of Diana Hunter, its chief executive, and said it would seek to raise £125m from investors through a placing of new shares. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

A number of suppliers are understood to have deserted the company, which supplies drinks to thousands of pubs, undermining Investec’s efforts to raise the new funding.’ ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

Bargain Booze has shops in Shotton, Buckley, Mold and Holywell. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​


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