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Australian online bookseller Booktopia has appointed voluntary administrators, just over two weeks after it ceased trading on the stock market. “The administrators are undertaking an urgent assessment of Booktopia’s business while options for its sale and/or recapitalisation are explored,” Booktopia Group Limited said in a statement to the Australian Securities Exchange on Wednesday.
The company notified the ASX on June 17 that it would be immediately suspending its stock from quotation. Shares will remain suspended from trading during the administration process, with shareholder updates uploaded to the ASX platform as required. The appointment of voluntary administrators comes after David Tenke resigned as chief executive in June. Founder and director Tony Nash then stepped into the role of executive director and sales director.
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Australian online bookseller Booktopia stops trading on stock market7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
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