12:35 ET<\/span>
\n<\/span><\/p>\nWine retailer Oddbins has gone into administration, but all of its 89 stores will remain open for now.<\/p>\n
Administrators Deloitte said they were hopeful of selling Oddbins as a going concern and had been contacted by “a number” of interested parties. <\/p>\n
Oddbins tried to avoid administration by getting creditors to accept lower repayments, but one of the biggest, HM Revenue and Customs, refused.<\/p>\n
Oddbins recently shut 39 stores amid stiff competition from supermarkets.<\/p>\n
The company, which employs 400 staff, is not the first specialist wine retailer to be squeezed out by supermarkets.<\/p>\n
Threshers-owner First Quench collapsed in 2009, while the Unwins chain folded in 2005.<\/p>\n
Lee Manning, one of the newly-appointer administrators, added: “We will continue to trade the company whilst seeking a sale as a going concern. Employees will continue to be paid and will be fully briefed.”<\/p>\n
Last week, Oddbins said that a majority of creditors had voted in favour of the rescue plan, known as a Company Voluntary Agreement (CVA), and wanted to see the company continue trading. <\/p>\n
It had proposed paying creditors 21% of the money they were owed. <\/p>\n
But the opposition of HMRC – which is owed \u00a38m by the chain – meant the CVA could not proceed.<\/p>\n<\/p><\/div>\n<\/p>\n
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