Oddbins
Oddbins
(Image credit: Oddbins)

Oddbins has applied to go into administration to protect it from creditors applying for winding up orders.

Going into administration gives Oddbins ten days of protection from its creditors. The company voluntary arrangement (CVA) put together by Deloitte will be voted on at a meeting in London on Thursday 31 March.

British Gas, which is owed £57.65, is known to have issued a winding up order. It is not known if they are the only creditor to issue a winding up order.

A spokesperson for Oddbins told Decanter.com: ‘It is a precautionary measure to allow the CVA to go through’

‘The application gives Oddbins a moratorium over any claims of 10 days and the CVA vote is on 31st March. These creditors will be bound by the terms of the CVA although they can appeal if they feel the situation is unjust.’ 

Decanter.com understands that Oddbins became aware of the claim by British Gas last night, and had initially believed claims could not be processed once a CVA had been announced.

Written by Jim Budd

Jim Budd
Jim Budd
Decanter Magazine, Wine Writer & Photographer

Jim Budd moved from education to wine in 1988 and has written for Decanter since 1989. He is the former editor (1991-2015) of Circle Update, the newsletter of the Circle of Wine Writers.  He writes the award-winning www.jimsloire.blogspot.com and is one of the five members of the Les 5 du Vin blog. Budd exposes the dangers of drinks investment on his award-winning www.investdrinks.org website, and complementary www.investdrinks-blog.blogspot.com blog. He also contributes to Hugh Johnson’s Pocket Wine Book, Wine Behind the Label and the Academie du Vin. Budd is a keen photographer – especially in the Loire.