Conviviality Retail has recently floated on the Aim. They are one of the larger off-license franchise businesses and are featured in Shares this week. They are mainly covering the north west of England with 600+ outlets selling beers @15% below prices charged by supermarkets. Their plan is to expand into southern England and develop their wine business led by a former executive who worked for Waitrose and Sainsbury (watch out Majestic), Cheers!

Only the little people pay taxes.

Conviviality, the company behind high street off-licence chains Wine Rack and Bargain Booze, is on the brink of collapse, putting 2,600 jobs at risk and prompting warnings that pubs could run dry.

In a statement to the stock market, Conviviality said investors had refused its request for £125m of new money, which it needs to stave off bankruptcy after a string of shock profit warnings.

Directors are still seeking a buyer for all or part of the business, but Conviviality is facing the prospect of going into administration, which is likely to be managed by accountancy firm PricewaterhouseCoopers.

The trade body for the UK’s pubs, more than 20,000 of which are supplied by the company’s Matthew Clark distribution division, warned many could now face “short-term supply issues”.

“Despite a significant number of meetings with potential investors resulting in good levels of demand, and constructive discussions with a number of key customers and suppliers regarding the provision of support, there was ultimately insufficient demand to raise the full £125m,” the company said.

It looks like total incompetency does it not. Drunk on the job !

I'll drink to that chess , hic .