In short:
Australian book retailer Booktopia has gone into voluntary administration.
The company has been trading at a loss for over a year and earlier made 50 staff redundant.
What’s next?
Administrators are looking at selling or restructuring the main Booktopia business and its three subsidiaries.
Australian online book retailer Booktopia has gone into voluntary administration as swirling debts and a decline in sales prompted the move.
An “urgent assessment” of Booktopia’s assets has been flagged, with a possible sale or restructure the focus of three administrators from McGrathNicol Restructuring, who have been appointed to head the evaluation of Booktopia Group Limited and three subsidiaries.
The company’s shares have not traded on t…
Read the full article at: https://www.abc.net.au/news/2024-07-03/booktopia-goes-into-voluntary-administration-bookseller-retail/104053908