UK off-licence chain Conviviality in administration

Owner of Bargain Booze and Wine Rack is seeking potential buyers for its retail operations

 

PwC, which has been appointed administrators for drinks group Conviviality, has said it is still in talks with potential buyers for the collapsed firm’s retail operations.

It said: “Conviviality Plc continues to engage with parties interested in its retail business, which continues to trade under the names of Bargain Booze, Bargain Booze Select Convenience and Wine Rack.”

C&C has already acquired the wholesale arm of Conviviality – Matthew Clark and Bibendum – through a pre-pack administration on Wednesday.

Conviviality’s retail businesses are still trading and all staff are currently employed. However, the jobs of around 600 retail workers, who are directly employed by Conviviality, are currently at risk. That number rises to around 2,000 when accounting for Conviviality’s franchises. PwC said in an updated statement that it would provide further updates in due course.

Conviviality confirmed last week that it planned to appoint administrators after a string of profit warnings and the discovery of a £30 million (€34 million) tax bill, putting 2,600 jobs at risk. – PA