Disposal puts investors off of Naked Wines

AIM-listed drinks retail business Naked Wines (LON:WINE) has seen its share price drop by 1.77% to 249.50p (as of 15:15 BST) after it announced the sale of its Lay and Wheeler business for a cash consideration of £11.3 million. This follows the disposal of the Majestic Wines commercial and retail portfolios for around £100 million, which was announced in August, as the company shifts gears to focus on the Naked Wines business.

CEO Rowan Gormley said: “I am delighted that we have also secured an independent future for Lay & Wheeler and its employees.

I would like to thank all staff, customers and suppliers for their loyalty and continued dedication during the process.

We look forward to our future as a much simplified and growth orientated company continuing to focus on the huge opportunity ahead of us“.