High Street
Bestways poised to purchase retail arm of Conviviality
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Cash and carry wholesaler Bestway is set to announce its plan to purchase Conviviality’s retail chains, which includes Bargain Booze.
According to reports Bestway, run by Zameer Choudrey, is thought to have paid roughly £7.5m for the Conviviality businesses.
The deal will secure roughly 2,000 jobs and will bring the total number saved to roughly 4,000, following the purchase of Matthew Clark and Bibendum by Magners.
Conviviality issued a profit warning in March after it discovered a £30m tax bill which was unaccounted for. The drinks retailer filed for administration just a day after selling its wholesale business.
