20-year-old online book retailer, Booktopia, which went public on the ASX in 2020, is on the brink of collapse.
Booktopia has entered voluntary administration after the cash-strapped online book retailer failed to secure funding to improve its liquidity.
In a statement to the Australian Securities Exchange (ASX), McGrathNicol Restructuring said it had been appointed as the voluntary administrator of Booktopia Group and its subsidiaries, and would urgently undertake assessment of the companys business while options for its sale or recapitalisation were explored.
Booktopia was founded in 2004 and went public on the ASX in December 2020, r…
Read the full article at: https://www.forbes.com.au/news/investing/booktopia-enters-voluntary-administration/
