MORE than 500 jobs have been put at risk as Oddbins confirmed today it has gone into administration.

An estimated 550 workers may lose their livelihoods if the alcohol and retail firm fully dissolves.

Administrators at Duff and Phelps said that weaker consumer confidence had put pressure on retail businesses in recent years.

The chain owned 101 off licences and shops under a variety of names, such as Booze Busters, Oddies and Simply Drinks. This has been the second time that it has collapsed in eight years.

There is now a hunt for potential buyers to rescue the chain, which was bought by West Midlands-based entrepreneur Raj Chatha and his family in 2011.

All of their stores are continuing to operate.

Joint administrator Phil Duffy said: “The continued decline in consumer spending, pointing to a squeeze on household finances, combined with rising living and national wages have put increased pressure on retailers’ bottom lines.

“Wages struggle to keep up with the pace of inflation, and continued, deepening unease and uncertainty over Brexit, mean consumers are cutting back on spending.

“Add into that mix rising business rates and rents, and traditional bricks-and-mortar retailers are undoubtedly feeling the strain.”

The news at Oddbins is the latest in a string of worrying stories for the British high street, with cafe chain Patisserie Valerie and iconic music store HMV announcing their closures, and workers at Patisserie Valerie claiming on Friday that they have not been paid since the store’s closure.