Following a series of efforts to stay afloat, Booktopia has officially called in the administrators after 20 years of operation.
As of 3 July 2024, McGrathNicol Restructuring Partners Keith Crawford, Matthew Caddy and Damien Pasfield have been appointed Voluntary Administrators of Booktopia Group Limited and its subsidiaries.
According to an announcement posted on the ASX, the Administrators are undertaking an urgent assessment of Booktopia’s business while options for its sale and/or recapitalisation are explored.
Booktopia was founded in 2004, reaching highs of $200m+ annual sales in FY2021 and 2022 with COVID tailwinds. The business listed on the ASX in December 2020 at a price of almost $3 but lately has traded 98 percent down…
