BSR
BSR
  • Home
  • Distressed Businesses
    • All Distressed Businessess
    • Administrations
    • Liquidations
    • Winding Up
    • Insolvency Advice  New
  • Buy a Business
    • All Businesses for Sale
    • Find a Business for Sale
    • Raising Business Finance
    • Buyer Acquisition Service   New
    • Escrow Service   New
  • Sell a Business
    • Sell Your Business
    • Seller Accounts
    • Need Help Selling?
    • Help With Finance New
    • Business Valuation
    • Business Wanted Adverts
  • Insights & News
    • View All News
    • View All Insights
  • Off-market
    • Source deals
  • Log In
  • Join Now
Join now
11111111

Home / News / The Book People goes into administration

The Book People goes into administration

Wed, 18 Dec 2019 | ADMINISTRATION

The Book People goes into administration

Online and pop-up book retailer The Book People has gone into administration, announcing that it has appointed advisers from PricewaterhouseCoopers.

PwC administrators have said that there will be no immediate redundancies and that trading will continue as normal as administrators seek to secure a rapid sale of the business. All orders already placed for Christmas are due to be fulfilled.

The Book People was founded in 1988 in Godalming, Surrey by Ted Smart and Seni Glaister. The company employs nearly 400 staff and operates from a warehouse in Bangor.

Private equity firm Endless acquired the company in 2014. 2017 saw The Book People make sales of £71 million, but its profits fell to £1.1 million from £6.2 million the year before, with the company’s debts then at £33 million.

It makes 70 per cent of its sales online, also selling direct to schools and businesses and through pop-up shops in workplaces. In addition to books, the company also sells toys, stationery and gifts, both online and through its catalogue.

Discussing the company’s problems, Endless partner James Woolley said: “The well-documented challenges in the retail environment compounded by the strength of global online booksellers, has severely impacted operating cashflows over recent years.”

Joint administrator and PwC partner Toby Underwood said: “The intention is to fulfil and deliver all customer orders received and accepted. I appreciate the obvious concerns that staff in particular will have as we move towards Christmas.”

“While the administrators have funding to meet the payroll for December, the longer-term prospects for the business, staff, customers and suppliers will clearly be dependent upon whether a sale can be secured.”


Share this article



Latest Businesses for Sale

Leading Pet & Aquatic Retailer
Ickenham, South of England, UK

Established for approximately 6 years – this company has grown to become one of the leading pet and aquatic retail businesses in the area. It has a predominantly domestic customer base – the vast majority of its sales are to the domestic market.

Asking Price: £62,000
Turnover: £750,000

LEASEHOLD


E-commerce Supplier of Coffee Products
UK Wide

The company produces and supplies a wide range of coffee products created using ethically sourced beans from South America. The core products comprise wholebeans, grounds, single-origin roasts, blends, cold brews and compostable pods.

Asking Price: £300,000
Turnover: £200,000

LEASEHOLD


Luxury Vehicles Retailer Utilising a Showroom-free Business Model
UK Wide

The company offers an extensive range of luxury cars, including vehicles from prestigious manufacturers such as Aston Martin, Ferrari, Lamborghini and Rolls Royce. The business operates with a unique showroom-free approach, utilising a dedicated onli...

Asking Price: Offers Invited
Turnover: £97,000,000

FREEHOLD



View more businesses for sale

News Search

Latest News

 
07
 
Feb
 

Administrators exploring accelerated sale of telecoms contractor | ADMINISTRATION

Administrators from RSM UK Restructuring Advisory LLP are se...

 
06
 
Feb
 

M&Co brand bought out of administration, but 170 stores still to close | ADMINISTRATION

Scottish clothes retailer, M&Co has been bought out of admin...

 
06
 
Feb
 

Australian firm announced as preferred bidder for collapsed UK battery start-up | ADMINISTRATION

Recharge Industries has been named as the preferred bidder f...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
08
 
Jul
 

Theo Fennell management acquires business from Endless | BUSINESS SALE

Private equity firm Endless has sold British jewellery and s...

 
11
 
Jun
 

Menzies Distribution continues growth with JBT acquisition | BUSINESS SALE

Menzies Distribution, which is backed by private equity firm...

 
02
 
Jun
 

BSW acquires East Yorkshire timber business | MERGER

Endless portfolio company BSW Group, one of the UK's la...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news

logo
Our Services Distressed Businesses
  • Businesses for Sale
  • Distressed Companies
  • List a Business
  • Help with Finance
  • Buyer Acquisition Service
  • Small Businesses for Sale
Company Buy a Business
  • About BSR
  • Pricing
  • Insights
  • News
  • FAQs
  • Reviews
Get In Touch
020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm
About BSR
Business Sale Report is the UK's leading
independent business for sale & distressed business listing service.
Established in 1995, BSR offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.
Subscribe

Subscribe to our newsletter to receive news about the latest businesses for sale.

  • Terms
  • Privacy
  • linkedin
  • facebook
  • twitter
© 1995-2023. Business Sale Report Ltd. All rights reserved. www.business-sale.com.