Bankruptcy is spreading through the world English-publishing world as Australia and New Zealand’s leading bookselling organization RedGroup Retail has been placed into voluntary administration by private equity owners PEP. The group comprises Angus & Robertson in Australia (with over 160 stores), Whitcoulls in New Zealand (with 65 stores), Borders in Australia (26 stores), New Zealand and Singapore, and the Calendar Club in both Australia and New Zealand. The combined entities employ approximately 2,500 people. The Age reported today that REDgroup “was forced to call in administrators to the businesses this afternoon following a board meeting.” All stores are slated to […]
