Oddbins quash 'rumours' over Castel debt

Oddbins,Castel,Nicolas News Wine News
  • Wednesday 14 October 2009

In a strongly-worded letter to its suppliers, Oddbins has set the record straight over ‘gossip’ surrounding money owed to its former owner Castel.

It claimed for Castel to resort to legal proceedings was ‘not helpful’ to either party.

Castel lodged an official claim at the UK companies register Companies House, through its UK subsidiary Nicolas, to recoup money Oddbins owed following the sale of the high street retailer in August last year.

Oddbins has now settled this sum.

In an official statement to their suppliers, obtained by decanter.com, Oddbins owners Henry Young and Simon Baile have defended the non-payment.

They claimed they had withheld money to offset against sums owed by Castel, and taking the matter to Companies House was unnecessary.

In their statement Baile and Young said they were both ‘very upset’ by the action Castel had taken.

‘The company is expected to become profitable again next year following substantial losses under its former owners [Castel] and this action is not helpful to anyone,’ they added.

Baile told decanter.com their statement was an attempt to stop any speculation and uncertainty.

‘When you have gossip pedalled about, it’s important to tell it how it is and stop the rumour mill’.

In an official statement, Castel said, ‘As far as we are concerned, any financial issue which might have arisen between Castel, or Nicolas, and Oddbins has now been entirely resolved.’

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