Page last updated at 15:25 GMT, Thursday, 4 February 2010

Sir David Murray buys wine firm

bottle of port
Cockburn's is more than 200 years old

Sir David Murray has taken control of Cockburn's of Leith, Scotland's oldest wine merchant.

The company went into administration last month.

Cockburn's brand name, customer list, some debts and part of the stock have been sold to the Livingston-based Edinburgh Wine Importers.

That company was founded in 1975 and has been owned for the past four years by Sir David Murray, the chairman of Murray International Holdings.

Mr Murray's company has metal and property interests as well as a controlling stake in Rangers Football Club.

'Great result'

Cockburn's, based in Edinburgh, was founded in 1796, and supplied retail, trade and corporate customers from across the UK.

Customers included Sir Walter Scott, King George IV and Charles Dickens.

However, it faced declining orders in the economic downturn, and its directors decided on Friday 29 January to put it into administration.

Colin Dempster, joint administrator of Cockburn's at Ernst and Young, said: "We received a significant amount of interest in Cockburn's of Leith and are pleased to have concluded a successful sale in a short timescale.

"To have safeguarded the historic name of Scotland's oldest wine wholesaler is a great result."

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