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News - 22 January 2011

Local High Street favourite goes into administration

British Bookshops, which has 51 stores and 300 staff across the south of England, has become the first retail casualty of the year by going into administration following cash flow problems and tough trading conditions compounded by poor Christmas trade.

Administrators from restructuring group Zolfo Cooper said the company would continue to trade as normal, but 40 people have been made redundant from the distribution centre in Hollingbury.

The administrators have also brought in stock clearance firm GA Europe to help run British Bookshops as the various options are considered including finding a buyer for the business.

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