Booktopia enters voluntary administration
Beleaguered online book retailer Booktopia has announced it has entered voluntary administration after it failed to secure funding.
The company posted it had appointed Keith Crawford, Matthew Caddy and Damien Pasfield from McGrathNicol to oversee its restructure.
“The Administrators are undertaking an urgent assessment of Booktopia’s business while options for its sale and/or recapitalisation are explored,” the statement released on the ASX reported.
“The shares of Booktopia Group Limited (Administrators appointed) will remain suspended from trading during the administration process. Shareholder updates will be uploaded to the ASX platform as required.”
More to come
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