Dark days for Collins Booksellers with sell off on the cards

The company's administrators are seeking a total sale of the business, with interested parties to deliver expressions of interest up until the 13th of May. While administrators intend to secure a full sale of Collins Booksellers, it has also been indicated that the company's assets will be sold off individually if such a purchase is not secured. Assets for sale include stock, fixtures and fittings and goodwill.

Administrator Grant Thornton Recovery has emphasised that it is the only the 23 company-owned stores that are up for sale, rather than any of the franchised outlets associated with Collins Booksellers. The business is continuing to trade throughout the administration process.

Following an agreement with publishers and major book printers new stock is being made available to the stores to facilitate the ongoing process. Part of the problem that percipitated the crisis was the refusal of suppliers to continue delivering new titles to the company stores.