Bibby to the rescue of drinks chain

BRS, the retail division of Bibby Line Group, which also owns York-headquartered Costcutter Supermarkets, said it will “significantly expand” the wholesale side of Rhythm & Booze and convert some of the sites into convenience stores.

The deal, the financial details of which have not been disclosed, sees BRS purchasing all 68 stores from administrators Ernst & Young, with all 425 employees transferring with the business, including managing director Martin Swaine who will retain his current position in the new company.

Barnsley-based Rhythm & Booze was formed in 1993, and together with his father, the late Ronnie Swaine, Martin grew the estate, with stores across Yorkshire and North Lincolnshire.

Ernst & Young said the financial difficulties of Rhythm & Booze arose from “a combination of ambitious expansion plans that were not properly funded coupled with a loss of credit insurance cover which restricted supplies and impacted upon sales levels”.

Nick Ivel, director of BRS and chief executive of Costcutter Supermarkets Group, said: “Rhythm & Booze is a very well respected business and one that we have long admired. Under the stewardship of Bibby Retail Services we are confident that we can quickly re-establish its prominence and implement a robust business strategy that will lead to longer-term growth and expansion.”