Shareholders in the company, which has annual sales of £1.6bn, are likely to receive “little-to-nil” value for their shares, which have been suspended on the junior AIM stock market since 14 March after a series of profit warnings. Conviviality also highlighted margin pressure within its wholesale business.
UK retailer Conviviality, owner of Bargain Booze, says it intends to appoint administrators within ten days.