British Bookshops & Stationers sold in a management buy-out

Private equity firm Endless has sold its British Bookshops & Stationers (BBS) retail business in a management buy-out just nine months after the company bought it.

Already the owner of discount bookstore The Works, Endless acquired British Bookshops from Eason in May 2009 for an undisclosed amount. The Irish book chain, Eason, took full control of the firm in 2005, in a deal thought to be worth £30m.

The buy-out has already proved to be beneficial, John Simpson managing director of BBS commented: "The business has made fantastic improvements under the new management team in the first six months since Endless' investment."

A return to profitability has been predicted for the retailer "for the first time in several years." Before the rescue the bookstore had been underperforming and had been "a drain on its parent."

Endless has created a "radical operational restructuring" plan to cut down on costs and to improve the range of products offered for sale in the shops. A new management team has also been brought in from Endless.

British Bookshops has 40 shops in Southern England and 400 employees.

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