Online book retailer Booktopia has appointed voluntary administrators after it failed to secure enough funding to avoid collapse.
The Australian online business has appointed Keith Crawford, Matthew Caddy and Damien Pasfield from McGrathNicol to oversee a sale, or the selling of parts.
“The Administrators are undertaking an urgent assessment of Booktopia’s business while options for its sale and/or recapitalisation are explored,” an ASX statement reads.
“The shares of Booktopia Group Limited (Administrators appointed) will remain suspended from trading during the administration process. Shareholder updates will be uploaded to the ASX platform as required.”
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Last month, Booktopia entered a sudden trading halt…
