- Booktopia was purchased by digiDirect owner Shant Kradjian
One of Australia’s largest book retailers has been rescued by a buyer just months after it entered voluntary administration.
Booktopia, an online bookstore founded in Sydney, has been acquired by the owner of online camera store digiDirect, Shant Kradjian.
The sale of the company and its assets was finalized with the transfer to Kradjian on Friday evening.
The Booktopia website has since resumed operations and around 100 positions are expected to be available within the company.
“The transaction will result in the retention of all remaining employees… and continued supply for Booktopia’s trade creditors,” said McGrathNicol administrator Keith Crawford. WA today.
‘We commend digiDirect owner Shant Kradjian and his team, who acted quickly and professionally to complete the due diligence and transaction in collaboration with the administrators, Booktopia staff and key suppliers.’
However, the sale does not cover what Booktopia owes to its creditors. A second creditors’ meeting will be held.
More to come.
Booktopia, an online bookstore founded in Sydney, has been bought by the owner of online camera store digiDirect, Shant Kradjian