Thu, 15 Jun 2017 | ADMINISTRATION
Lovereading Ltd, a book recommendation website, has entered administration just one month after starting a search for a buyer.
Administrators from IRL are examining restructuring options for the business to include a sale while it continues to trade as normal,The Bookseller has reported. It is understood that there are no present plans to make the eight staff redundant, and are already in contact with interested buyers.
The news of the administration comes one month after Lovereading announced that it was seeking to sell to gain fresh investment to support its aim to scale up to reach a “larger audience and build the business to the next level”. The attempt to sell the business failed, and the company’s co-founder and director Peter Crawshaw put out a notice of administration yesterday (13th June).
Established in 2005 to tap into “emerging technologies”, the business enables publishers to reach readers directly. It’s brands include lovereading.co.uk, lovereading4kids.co.uk and lovereading4schools.co.uk.
Kenneth Touhey, director at IRL, told The Bookseller: “At the moment no member of staff has been made redundant. We continue to trade as normally as possible as we continue to talk to interested parties. We are supporting the staff as far as possible and they continue to be employed as we find a buyer.”
Subscribers can contact the administrator here
Subscribe to Business Sale Report here
A highly successful tour operator and travel agency trading for over 40 years. Offers bespoke travel and tourism packages for the benefit of private, corporate and commercial clients. Specialises in travel to Latin America and the Middle East. A full...
LEASEHOLD
Design, manufacture and retail of own brand tents, awnings and accessories. Full range of products from small hiking and touring tents to large family tents.
RELOCATABLE
Well established and lucrative Paving and Drainage Contractor. Leasehold/Freehold option available. Convenient and accessible trading position, loyal customer base. Predicted increased turnover £900k (y/e 30.04.20), consistently strong profits, impre...
LEASEHOLD
19
|
Jan
|
Injection moulding business sold out of administration to employees | BUSINESS SALE
Conwy-based injection moulding company A2B Plastics Limited ...
18
|
Jan
|
AFH Financial Group ready to return to acquisition trail in 2021 | BUSINESS NEWS
In its yearly report to October 2020, wealth manager and adv...
15
|
Jan
|
Buyer sought for portfolio of pubs | BUSINESS SALE
Five pubs that formerly operated under the Authentic Alehous...
Sign up to receive our acquisition alert emails to get your FREE guide
05
|
Feb
|
Plans submitted for major job-creating commercial development | COMMERCIAL PROPERTY
Developer Stirlin has submitted plans for a major employment...
26
|
Sep
|
Monarch Airlines asks for investment, but 'not in danger' | BUSINESS NEWS
Monarch Airlines has officially reacted to speculation over ...
09
|
Dec
|
Administrators seek distressed sale of Fairline | ADMINISTRATION
Fairline, the luxury boat builder which entered administrati...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources