A supplier to Wetherspoons and over 25,000 restaurants, hotels and bars, is facing administration.

Conviviality, which also owns Bargain Booze and Wine Rack, has suffered a string of profit warnings in recent weeks and revealed a £30m tax bill. It needed £125m from investors, but had been unable to raise the cash, as reported by the BBC.

It is now looking at other options, including a potential sale of all or part of the business. If that fails, the company, which employs 2,500 staff, is likely to go into administration.

Conviviality also caters to festivals and events, as well as major supermarkets.

This is just the latest in a long line of companies in trouble. Since January, Toys R Us and electronics retailer Maplin have filed for administration, while fashion retailers New Look and Select are set to close hundreds of stores.

Retailers have been hit hard by a combination of higher overheads, changing consumer habits and the rise of online spending.

Most Bargain Booze stores are independents owned by small shopkeepers, which partner with Bargain Booze.

Punchline says: "With any luck, local independent Bargain Booze stores won't shut because of Conviviality's collapse, but it will be tough for them this month. So get out there and support your local business!"