The owner of Bargain Booze has announced plans to call in the administrators during the coming weeks.
Conviviality Plc, which includes the Crewe headquartered off-licence chain as well as fellow retailer Wine Rack among its brands, has filed a notice of intention for the move following discussions with banks.
A statement issued says: “Unless circumstances change, and in accordance with statutory requirements, the board intend to appoint administrators within 10 days. The secured creditors can, however, appoint administrators without the requirement for notice.
“The Directors intend to allow the business to continue to trade and the Company continues to work alongside advisers in order to preserve as much value as possible for all stakeholders as it explores a number of inbound enquiries regarding a potential sale of all or parts of the business.”
Conviviality Plc, which has offices in London and Bristol as well as its Weston Road base in Crewe, reportedly employs around 2.500 staff.