Administrators appointed at wine supplier D&D International
A CHESHIRE company which supplies wine to cash and carry operators and supermarkets, has been placed into administration.
D&D Wines International of Adams Court, Knutsford, which in 2010 had a turnover of £47m, appointed RSM Tenon last Friday. A buyer is now being sought for the business.
Chris Ratten and Jeremy Woodside of RSM Tenon are the joint administrators of the business.
Mr Chris Ratten said ‘It appears the reason for the firms decline was due to a lack of cashflow, the first quarter of the year is traditionally the most quiet in terms of sales activity which coupled with a change in trading terms with a supplier towards the back of 2011 resulted in significant cashflow pressure.
“After reviewing overhead costs, we have unfortunately had to make 12 out of the 27 staff redundant but we are currently marketing the business and speaking with interested parties.”
Founded in 1973 the company, which made a profit of £509,000 in 2010 on turnover of £47m, sells around 600 wines in the UK & Ireland. It imports wine from across the globe and has partnerships with vineyards in Argentina, Australia, Chile, France, Italy, New Zealand, Spain and the US.
D&D Wines works with a number of the major multiples, including Tesco Sainsbury’s and the Co-operative.
