Bertrams goes into administration

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From The Bookseller:

Bertrams is confirmed to have gone into administration as of this afternoon (19th June) and will be making company-wide redundancies.

Administrator Turpin Barker Armstrong said in a statement: “We can confirm that Bertram Trading Limited, the global book wholesaler, has entered administration along with Education Umbrella Limited, a supplier of textbooks and digital education resources and Dawson Books Limited, an academic and professional library supplier. Book wholesalers have suffered from falling demand in recent years due to changes in the distribution model for literature and the rising popularity of e-books.  These factors, combined with the Covid-19-related closure of many public libraries and educational facilities, meant these businesses could no longer operate viably.

“Sales have been agreed in principle with two unconnected parties for the tangible assets and unencumbered stock of Bertram Trading Limited and for the intangible assets of Education Umbrella Limited and it is hoped that these will be completed shortly.

“Unfortunately, the majority of employees have been made redundant with immediate effect with a small number retained to manage the winding down of operations. We are liaising with all employees impacted regarding their statutory rights and to direct them to support from the relevant government agencies.”

Link to the rest at The Bookseller

PG notes The Bookseller is an overflowing fountain of positive joy today.