Matthew Clark owner Conviviality is reportedly on the verge of entering administration, after failing to raise £135m from an emergency cash call.
The development is likely to lead to PricewaterhouseCoopers being appointed as administrator tomorrow (29 March), according to Sky News.
It comes just days after Conviviality confirmed the departure of Diana Hunter, its chief executive, and said it would seek to raise a nine-figure sum from investors through a placing of new shares.
Conviviality supplies more than 700 off-licences and 23,000 pubs and restaurants across the country, and employs more than 2,600 people.
Matthew Clark has 18 depots across the UK.
The company said that there was “nothing to report” when approached for comment.
