Oddbins facing uncertain future

By: Chris Mercer - 2 March 2011 18:07

We've had an interesting week chasing down speculation in the financial world on the future of Oddbins, the UK wine retailer.

Today, just-drinks broke the news that Oddbins has brought in consultants to examine "strategic options" for the group going forward. Our sources have told us that the retailer had a pretty torrid Christmas, while a court dispute with its previous owner, Castel Freres, is also putting financial pressure on the company.

Although Oddbins has done well to reduce losses since Simon Baile bought the firm from Castel in 2008, its financial situation has recently deteriorated, just-drinks has been told.

The next week should provide greater clarity on the group's position, so stay tuned.