Troubled drinks and impulse sector's leading independent distributor, Conviviality Plc has formally gone into administration, bringing to an end weeks of speculation that the company was on the edge of collapse, with up to 2,500 jobs at risk.
Matthew Callaghan, Ian Green and David Baxendale of PricewaterhouseCoopers have been appointed as joint administrators. They stated: 'Conviviality Plc continues to engage with parties interested in its retail business, which continues to trade under the names of Bargain Booze, Bargain Booze Select Convenience and Wine Rack.'
Earlier this week, Magners owner C&C said it planned to buy Conviviality brands Matthew Clark and Bibendum, which would save around 2,000 roles.