THE owners of Bargain Booze and Central Convenience announced plans to file for administration within two weeks.

Conviviality, the owners of both chains and a major drinks wholesaler to groups such as JD Wetherspoon, has said it will go into administration following weeks of profit warnings and a failed attempt to raise emergency funds.

Central Convenience stores were bought by Conviviality in December 2017 after the group went into administration. The purchase included 12 Isle of Wight stores, previously Spar shops owned by Hunnyhill Stores Group.

In a statement, the company said: "The Directors intend to allow the business to continue to trade and the Company continues to work alongside advisers in order to preserve as much value as possible for all stakeholders as it explores a number of inbound enquiries regarding a potential sale of all or parts of the business."