Booktopia Group enters voluntary administration
Key points
- McGrathNicol Restructuring appointed as voluntary administrators
- Urgent assessment of Booktopia's business underway
- Options for sale and/or recapitalisation being explored
Full summary
Booktopia Group Limited (ASX:BKG) has announced that on 3 July 2024, Partners Keith Crawford, Matthew Caddy and Damien Pasfield of McGrathNicol Restructuring were appointed as Voluntary Administrators (Administrators) of Booktopia Group Limited and its subsidiaries. The Administrators are undertaking an urgent assessment of Booktopia's business while options for its sale and/or recapitalisation are explored. The shares of Booktopia Group Limited (Administrators appointed) will remain suspended from trading during the administration process, and shareholder updates will be provided on the ASX platform as required. A first statutory meeting of creditors must be held within eight business days after the administration begins and will take place by Monday, 15 July 2024. Parties interested in recapitalising and/or acquiring Booktopia or any of its assets are asked to urgently contact the Administrators at booktopiaenquiries@mcgrathnicol.com. Further information will be uploaded to the Booktopia creditor page of the McGrathNicol website.
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