Online wine retailer Slurp.co.uk has been rescued by family owned wine merchants SH Jones.
The website was bought for an undisclosed amount after it collapsed into administration through lack of funds.
Slurp.co.uk managing director Jeremy Howard told Decanter magazine that despite 'dramatic sales growth' between 2009 and 2013 the site failed to make a consistent profit and that rapid expansion proved a drain on cash.
SH Jones, established in Banbury in 1848, also has three high street shops and one cellar store and plans to combine 'cutting-edge online retail and the more traditional hand-sell high street model,' it said in a release on the Slurp.co.uk web site.
Slurp.co.uk launched nine years ago and has been developing an international business in recent years. It is the second acquisition by SH Jones this year after the purchase of Hawkshead Wines in January. The main proportion of the SH Jones business is supplying pubs, hotels and restaurants.
No comments:
Post a Comment