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Matthew Clark and Bibendum director leaves following buyout

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Matthew Clark and Bibendum director leaves following buyout

James Lousada has stepped down from his position of director from alcoholic drink wholesalers Matthew Clark and Bibendum following the sale to C&C Group.

Lousada, a former director of Carlsberg UK, Holsten, Babycham and Tuborg, joined the company in 2016 as managing director.

The termination of his directorship was revealed in files posted to Companies House.

Matthew Clark and Bibendum, alongside subsidiaries Walker & Wodehouse, Catalyst PLB, CDC, Peppermint Events and Elastic, were sold to the C&C Group last month following the collapse of previous owner Conviviality.

Conviviality called in administrators following two profit warnings in March and the discovery of an unexpected £30m tax bill that saw company shares on AIM suspended. It sold the retail arm, including Bargain Booze and Wine Rack, to Bestway for £7.25m.

Its chief executive, Diana Hunter, stepped down with immediate effect following the crash in March.

Matthew Clark and Bibendum were quick to reassure customers that they were “working closely with partners” to “bring stock levels and service” back to “excellent standards.”

According to documents filed on Companies House, Matthew Clark Bibendum (Holdings) Limited owed £28.5m to creditors for the year end 30 April. Its total loss before tax was £1.3m compared to a profit of £5.8m the year prior.

Matthew Clark and Bibendum seek to reassure customers following sale >>

Conviviality sells retail arm of business to wholesaler Bestway>>

C&C Group confirms purchase of Conviviality’s wholesale businesses>>

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