Oddbins goes into administration

iB1

From the BBC:

http://www.bbc.co.uk/news/business-12925060

Wine retailer Oddbins is set to go into administration after failing to reach a deal with its creditors.

Oddbins had tried to avoid administration by getting creditors to accept lower repayments, but one of the biggest, HM Revenue and Customs, refused to support the move.

It is now expected to formally enter administration early next week.
But it said it was "optimistic" that a buyer could be found to keep the business going.

Oddbins managing director, Simon Baile, said a number of potential investors had expressed interest in buying the business, or parts of it, as a going concern.

Oddbins said that a majority of creditors at a meeting earlier had voted in favour of the rescue plan, or Company Voluntary Agreement, and wanted to see the company continue trading. It had proposed paying creditors 21% of the money they were owed.

It seems as if cheap alcohol from the supermarkets is really pounding the old "traditional" off licenses.

Mallotum_X

Thought it had gone bust a while back. Not exactly a suprise as supermarkets have a bigger cheaper range than many of the off licences. shame though.

ninky_2

i find it strangely refreshing. off licences and pubs going to the wall whilst business for coffeeshops and gyms is booming.

perhaps we're not all the binge drinking couch potatoes the daily fail paints us out to be.

costa coffee seem to be taking over the world at the moment.....

ultrawomble

Oddbins has always seemed very middle class - not like a traditional off licence. With the middle class feeling the pinch and also liking to get trashed on a daily basis at home (so pretending that they don't have a drink problem) rather than in a pub I guess that the supermarket buying power (and passed on benefits to the consumer) are always going to win.

nearlynew

Their biggest problem will be too much debt and high property prices.


Just like most of their customers.


But they'll look to blame something else.


Just like most of their customers.

FTBFun

Perhaps if in their beer ranges they actually bothered to source decent bottled British ales rather than Argentine and South African tramp juice I may feel a bit sorry for them. Quite frankly - tough !!!!.

ultrawomble

FTBFun wrote: »

Perhaps if in their beer ranges they actually bothered to source decent bottled British ales

Aldi and Lidl stock some decent British ales - I've had offerings from Shepherd Neame, Batemans, Wychwood, and Brains recently.

iB1

ninky wrote: »

i find it strangely refreshing. off licences and pubs going to the wall whilst business for coffeeshops and gyms is booming.

perhaps we're not all the binge drinking couch potatoes the daily fail paints us out to be.

costa coffee seem to be taking over the world at the moment.....

I don't know the actual statistics, but are people actually drinking any less than say 5 years ago? Or are they just buying and drinking their alcohol at different places?

I.e. - Instead of Threshers and the local pub -> ASDA and the sofa in the front room

ninky_2

iB1 wrote: »

I don't know the actual statistics, but are people actually drinking any less than say 5 years ago? Or are they just buying and drinking their alcohol at different places?

I.e. - Instead of Threshers and the local pub -> ASDA and the sofa in the front room

i think it's changing according to demographic. for blokes of a working age it's less but for young women and over 50s it's more. i'd have to check the stats though.

certainly round my way (which admittedly is a high immigration area) you don't see much binge drinking compared to the scenes of my youth whilst the costa coffee is fit to bursting with groups of men sitting around having a chat. quite nice really.

ninky_2

this is from a year ago but suggests a trend.

http://www.bbc.co.uk/news/uk-11170814

Alcohol consumption in 2009 saw the sharpest year-on-year decline since 1948, figures from the British Beer and Pub Association (BBPA) suggest.
The data showed a 6% fall in 2009 - the fourth annual drop in five years.
The association said UK drinkers were now consuming 13% less alcohol than in 2004, below the EU average.
Pubs, bars, off-licences, restaurants and supermarkets all saw alcohol sales fall, the HM Revenue and Customs data from UK producers and importers showed.

Radiantsoul

iB1 wrote: »

From the BBC:

http://www.bbc.co.uk/news/business-12925060

It seems as if cheap alcohol from the supermarkets is really pounding the old "traditional" off licenses.

I think Tesco et all do quite a good job of wine and beer. If minimium pricing is introduced it ought to help out the little guy and I think some specialised wine merchants such as Majestics are doing ok.