Booktopia has entered into voluntary administration, but will continue filling orders and selling to the public under supervision from an insolvency adviser.
Australia’s largest online bookseller announced the move on Wednesday, two weeks after it went into a voluntary suspension of share trading.
Along with Booktopia Group, its associated entities Booktopia, Making I. T. Better, and Virtual Lifestyles, have all been declared insolvent.
Administrator Keith Crawford said McGrathNicol Restructuring was undertaking an urgent assessment of Booktopia’s business while options for its sale or recapitalisation were being explored.
“We are urgently engaging with key stakeholders to maximise the prospect of successfully completing a sale or…
