Bargain Booze and Wine Rack set to be sold to Bestway
Having entered administration this week, Conviviality is set to see its retail brands Bargain Booze and Wine Rack sold to Bestway.
According to the BBC, the food wholesaler will pay £7 million for the brands. The move will save around 2,000 jobs.
In a statement issued yesterday, Conviviality said Matthew Callaghan, Ian Green and David Baxendale of PricewaterhouseCoopers had been appointed as joint administrators to Conviviality Plc.
Earlier this week, Conviviality sold its wholesale arm Conviviality Direct to Magners owner C&C Group in a move which saved around 1,900 jobs.
Conviviality indicated last week that it planned to appoint administrators. The news followed the stepping down of its chief executive, Diana Hunter, after the company issued two profit warnings in the space of a few days and revealed an overlooked £30 million tax bill to be paid to HMRC.
