Bookseller tells ASX it will announce outcomes from strategic review, including ‘progress in seeking additional funding’
Australia’s largest online bookseller has entered into a voluntary share trading suspension, just two weeks after axing 50 jobs and losing its chief executive.
At an investor presentation in February, Booktopia announced it had reduced its sales aspirations by between $1m and $3m based on existing market conditions, citing BookScan figures showing an 8.3% industry decline in January 2024. “We’re in motion at the moment, so will be probably more relevant towards the end of this week or early next week,” he said.Our Australian morning briefing breaks down the key stories of the day, telling you what’s happening and why it mattersIn the past fortnight Nash has stepped into the role of executive director and sales director after the resignation of the chief executive David Nenke on 3 June, just 12 months into the role.
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