Conviviality started looking for buyers after investors refused its request for £125m of new money needed to stave off bankruptcy
The owner of Bulmers, Magners and Tennent’s – Dublin-based C&C Group – is to buy the wholesale arm of struggling Bargain Booze owner Conviviality, safeguarding more than 1,800 jobs.
Conviviality is expected to appoint administrators on Wednesday and, before the move, C&C said it planned to buy the Matthew Clark and Bibendum drinks wholesalers for a nominal fee. It will provide funds to support the continued operation of their 18 depots around the country. The deal is dependent on Conviviality going into administration.
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