Booktopia Resumes Trading After Securing New Ownership

Monday, 19 August 2024, 00:50

Booktopia has found a buyer, allowing the Aussie online retailer to resume trading. This transaction ends the voluntary administration phase that began on July 3, giving hope to employees and stakeholders.
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Booktopia Resumes Trading After Securing New Ownership

Booktopia Resumes Operations Under New Ownership

The administrators of the embattled Aussie online book retailer Booktopia have secured a buyer, culminating in the resumption of trading. McGrathNicol announced that the online camera store digiDirect has purchased the business, bringing life back to Booktopia'. This acquisition follows Booktopia's move into voluntary administration on July 3.

New Beginnings for Employees and Customers

According to McGrathNicol, digiDirect plans to hire over 100 people, with former staff encouraged to apply for new roles. Partner and administrator Keith Crawford expressed satisfaction with the sale, indicating the transaction aims to ensure continuity for Booktopia's trade creditors and retain all remaining employees.

  • Special arrangements will be established for customers with unredeemed gift cards.
  • This sale is seen as a great outcome for all stakeholders involved.

The sale price will ultimately not yield returns for shareholders. Booktopia was founded in 2004 by Steve Traurig and Simon Nash in Sydney, and the company also oversees Angus & Robertson.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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