On Friday, Australian bookseller Booktopia requested an extension of the voluntary suspension of their securities, making clearer how dire their financial situation has become as the company seeks funding in order to continue operating. Last week, the company suspended trading shares pending an announcement about the outcome of its strategic review, which has been delayed in multiple press releases and is now expected to be made on June 28. In a letter to the Australian Stock Exchange, the company noted that it has had ongoing “liquidity challenges” and is looking for funding “both to meet redundancy costs and to provide […]
