The Australian online bookstore has announced it has appointed administrators to possibly restructure or sell the business after a year of losses.
  • In short: Australian book retailer Booktopia has gone into voluntary administration.
  • The company has been trading at a loss for over a year and earlier made 50 staff redundant.
  • What’s next? Administrators are looking at selling or restructuring the main Booktopia business and its three subsidiaries.
  • MHLoppy@fedia.ioOP
    4·
    5 months ago

    In its initial public offering in 2020, Booktopia issued shares at $2.30 and debuted on the ASX at $2.86.

    The stock has since lost more than 98 per cent and last traded at $0.045.

    …wow lol