Bargain Booze owner Conviviality’s crisis over £30m tax bill

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City & Finance Reporter for the Daily Mail

Hangover: Bargain Booze  owes £30m in taxes

Hangover: Bargain Booze  owes £30m in taxes

Hangover: Bargain Booze owes £30m in taxes

Bargain Booze owner Conviviality shocked shareholders after revealing it owed £30million in taxes, forcing it to suspend trading in shares and cancel its dividend.

The revelation is a disaster for the alcohol wholesaler and distributor which issued a second profit warning in a week.

It could now struggle to meet lending agreements with banks and has hired accountants PwC to advise on discussions with HMRC and its other creditors.

The £30million, due on March 29, was only discovered this week. Shares in Conviviality dived 64 per cent earlier this week.

 

 

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