A case of bargain-hunting as wine lovers take a punt on liquidated stock

AN UPMARKET buggy, supermarket trolleys, the car boots of old bangers and SUVs and the arms of strong sons were used to carry just some of about 150,000 bottles of discount wine on offer at a Dublin liquidation sale which began yesterday.

By 2pm the queue was out the door of the shop, in the green retail unit beside the Stillorgan shopping centre, as word spread through word of mouth, e-mail, Facebook and internet forums. The catalogue lists over 100 varieties of red, white and sparkling wine, with the cases on offer at an average discount of 43 per cent.

The stock is from wine distributer Parbind which was owned by entrepreneur Emmet Memery, and the liquidator is Kieran Wallace of KPMG.

The collapse of a number of his firms this year, including Asian restaurant franchise Lemongrass and Oyster Communications, left behind debts of millions.

The retail value of the 13,000 cases of wine is €1.9 million but the price after discount is some €1.1 million, according to catalogue prices. Most customers admitted knowing little about the wines on offer, mainly South African, but were willing to take

a punt. “It’s a bit of a risk buying it like that, but we can always give them out as presents,” said Simon Cummins, who bought 36 bottles for his workplace.

While he was not familiar with the wines, he got recommendations from a friend and thought the markdown was good.

Valerie McSwiggan bought 36 bottles of wine for €260. “I’ve no idea what they are like but we will keep them for over Christmas. Between flooding, the recession and swine flu you’d need something,” she said.

Delores Jardin heard about the sale from a colleague and spotted a wine that her husband likes. She bought six bottles of Gewürztraminer at half price.

The fact that the sale was the result of a business closure did not seem to bother the bargain hunters.

“You need to satisfy your creditors, and it’s a natural course of business,” one man said as he packed five boxes into the boot of his car.

Bernard Eyres of KPMG said it was much busier than expected, and they had to get in extra staff.

Only cash was accepted, and nearby at the Stillorgan shopping centre a queue formed at an ATM, where many were on the phone seeking advice and taking orders from friends.