This Is Cheshire

Booze Busters bids for buyer

From the Guardian Series, first published Thursday 9th Jan 2003.

HOPES are high that a buyer could soon be secured for the bulk of a beleaguered Warrington off-licence chain.

Receivers acting for Loushers Lane-based Cellar 5 have confirmed that they are in "advanced negotiations" with an unnamed purchaser for the majority of the company's Booze Busters stores.

Separate talks are also ongoing regarding upmarket Wine Cellar off-licences and Right Choice convenience stores, also run by Cellar 5.

Les Ross, joint receiver, said: "I am hopeful that the talks regarding these potential sales will reach fruition shortly."

Those stores not included as part of both sets of negotiations will be marketed as part of smaller chains or individually.

But Mr Ross admitted that some store closures will be necessary.

Blaming increased competition from supermarkets, the receivers were called in at the start of December.

Receivers say trade has been buoyant, despite the present circumstances. The chain employs more than 3,000 people around the country.

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