Deloitte, the administrator of off licence and convenience store group Wine Cellar, has sold the majority of stores and stock to EFB Retail.
Wine Cellar, which runs stores such as Booze Buster and Simply Drinks, went into administration on Wednesday.
Little is known about EFB Retail, but Wine Cellar’s former management is understood not to be involved in the deal and the administration was not a pre-pack.
Wine Cellar had 170 off licences and c-stores, mainly in the north of England. EFB has bought 109 shops, securing approximately 640 jobs.
Bill Dawson, partner in Deloitte’s reorganisation services practice, said: “The administrators are not in a position to continue trading the remaining 61 stores which have not been sold. These stores have been closed and unfortunately around 320 employees have been made redundant.”
He said Wine Cellar had conducted an extensive but unsuccessful search for an investor or buyer and the retailer’s financial position meant a sale via an administration was the only option.