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
Works with a network of reliable hauliers to provide comprehensive and reliable logistics solutions on a national basis. Offers invited.
RELOCATABLE
Has established a prominent position with clients in its industry due to its prestigious portfolio. Operates from two leasehold premises. Offers invited.
LEASEHOLD
Utilises a reliable network of UK and European hauliers to provide tailored logistics solutions, operating 24/7. Offers invited.
LEASEHOLD
|
23
|
|
May
|
Fintech company Loot collapses into administration | ADMINISTRATION
After failing to secure further backing from the Royal Bank ...
|
22
|
|
May
|
Spike in M&A activity in the education sector | BUSINESS SALE
In recent months, the education sector in the UK has witness...
|
22
|
|
May
|
Jamie Oliver restaurant empire collapses into administration | ADMINISTRATION
Celebrity chef Jamie Oliver, who shot to fame after campaign...
Sign up to receive our acquisition alert emails to get your FREE guide
|
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...
|
03
|
|
Dec
|
Luxury boatbuilder enters administration | ADMINISTRATION
A luxury boatbuilder in Northamptonshire has gone into admin...
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