Booktopia Group and its subsidiaries have entered voluntary administration two weeks after calling a trading halt at the ASX-listed online retailer which raised fears for its financial future.
Keith Crawford, Matthew Caddy, and Damien Pasfield from McGrathNicol Restructuring have been appointed as administrators on 3 July 2024 and are now assessing Booktopia’s business and exploring options for its sale and/or recapitalisation. Trading of Booktopia Group Limited’s shares will remain suspended during the administration process.
A first statutory meeting of creditors must be held within eight business days after the administration begins, which is set to take place by Monday, 15 July 2024.
In its first half to December 2023 results,…
