Just Wines throws Liquor Loot a lifeline
Online wine shop Just Wines has acquired craft spirit subscription service Liquor Loot, which entered voluntary administration last month.
Liquor Loot tapped Andrew Spring, partner at business turnaround and insolvency specialist Jirsch Sutherland, as the voluntary administrator. Last year, Spring arranged the sale of Sans Drink to Just Wines.
“In the case of Liquor Loot – and, previously, Sans Drinks – we have acted like a ‘matchmaker’ in a way, in that we have brought two synergistic businesses together and helped effect a sale,” Spring said.
“The voluntary administration process takes the pressure off the directors and gives the business the best chance of survival. With Liquor Loot, partnering with an established, experienced online retailer will help improve the business and take it to the next level.”
Just Wines founder Nitesh Bhatia emphasised how compelling Liquor Loot’s brand is and the acquisition will complement the online wine retailer’s offerings including non-alcoholic options.
“The process involved navigating significant challenges, particularly in maintaining business operations and engaging with potential buyers to ensure they had the necessary context for an informed decision,” Liquor Loot’s founder and director Joel Hauer said, referring to the administration.
“I’m proud that the Liquor Loot brand will live on and continue to provide a rewarding experience for our loyal customers. I’m excited to see the brand grow beyond its current boundaries, recapitalised under new management to explore new markets and product categories including collaborations with the wider Just Wines group of businesses.”
Bhatia said that Just Wines will continue to work with Hauer to optimise operations and explore new market opportunities.
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