UK: New deal for Oddbins creditors

May 22, 2011

Wine merchant Oddbins’ creditors are likely to be paid with just 6p for every pound owed, it has been reported. The chain had proposed a rescue deal which would have paid 21p in the pound but this was rejected by HM Revenue & Customs, forcing it into administration. A statement of affairs filed by administrator Deloitte said creditors are now expected to receive less than a third of the return detailed in the rescue detail, the Mail on Sunday said.

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