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Oddbins calls in restructuring consultancy

Published:  02 March, 2011
By Christine Boggis

Oddbins has hired a business restructuring consultancy to discuss the future of the business.

The company is looking at various options but insists it is too early to say any more.

Managing director Simon Baile said: “We are aware of certain rumours circulating about Oddbins.

“Since we took over the company in 2008, the business has been transformed and during 2010 we saw our footfall increase significantly for the first time in many years.

“Added to this we have seen strong growth in average spend and Oddbins’ average bottle price is now the highest of the high street multiples.

“As the current retail environment continues to be challenging, we have recently engaged Spectrum Corporate Finance to advise us on strategic options.”

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