More than half of off licence chain Oddbins stores will remain open after the retailer was bought out of administration by an unknown bidder.
The sale was announced by administrators Philip Duffy and Matthew Ingram of firm Duff & Phelps, who claimed a “substantial part of the business and assets” of Oddbins had been snapped up by an unnamed buyer.
Duff & Phelps said “the sale was achieved despite the current financial situation and secured the jobs people employed in 28 stores” across the UK.
No other details about the buyer or how many jobs had been saved was given in the announcement.
Oddbins fell into administration in February 2019, putting 550 jobs at risk. At the time, the retailer, owned by European Food Brokers, had 45 outlets and 101 off-licences across the UK.
According to documents, as of March this year Oddbins still had 53 sites still trading.
In a statement at the time, Oddbins said: “The deterioration of the high street, combined with the continuing economic uncertainty surrounding the withdrawal of the UK from the EU, has resulted in an unsustainable, tough physical retail market.”
No comments yet