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
This practice, which was established in the 1980s, is available for sale due to the retirement of the practitioner.
This practice, which was established in the 1980s, is available for sale due to the retirement. The partners would be available to assist in the transition period to ensure a smooth handover of clients.
This practice, which was established over 25 years, is available for sale due to the retirement. The vendors would be available to assist in the transition period to ensure a smooth handover of clients.
18
|
Apr
|
Education specialist makes second LDC-backed acquisition | BUSINESS SALE
Hybrid, an education media and marketing services firm, has ...
18
|
Apr
|
Administrators appointed to SPV behind £24m Bolton redevelopment | ADMINISTRATION
A special purpose vehicle (SPV) behind a £24 million r...
17
|
Apr
|
Hoxton Capital Management targets more M&A after double acquisition | BUSINESS SALE
International independent financial advisory firm Hoxton Cap...
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
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.