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.
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