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The Book People: 155 jobs lost at struggling business

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More than 150 jobs were lost at on-line e book store The Book People after it went into management in December.

Administrators PricewaterhouseCoopers (PwC) have been appointed on 16 December, however a brand new purchaser has no longer been discovered and 155 other people were made redundant.

The corporate will proceed to industry on-line and PwC stated it intends to fulfil and ship all orders.

The company has places of work in Bangor, Gwynedd, and Godalming, Surrey.

The Book People is going into management

The business used to be based in Godalming in 1998 and hired 393 other people at the time it used to be positioned in management.

Administrators stated 82 of the 142 team of workers at the Bangor place of job were made redundant.

The company bought books, items, toys and stationery on-line and by the use of a list, ceaselessly at discounted costs. It had an annual turnover of £50m and sells greater than 17 million youngsters’s books a yr.

The corporate, one of the vital UK’s greatest impartial e book outlets, used to be bought as a part of a rescue deal in 2014 via non-public fairness workforce Endless.

Toby Underwood, from PwC, stated: “This is a tough time for everybody associated with the much-loved book brand. Despite best efforts in exploring a sale of the business, it has not been possible to do so. It is therefore with regret that we have had to make a number of redundancies today.”

About the author

Sharan Stone

Sharan Stone

Sharan Stone has worked as a journalist for nearly a decade and has contributed to several large publications including the Yahoo News and the Oakland Tribune. As a founder and journalist for Market Research News, Sharon covers national and international developments.You can contact her at sharon@marketresearchnews.org

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