Ferrier Hodgson were appointed voluntary administrators of REDgroup Retail Pty Ltd reports the Sydney Morning Herald. RED Group owns Borders, Angus & Robertson, Whitcoulls (in NZ) and Calendar Club. Not sure of the impact on the Supanews business in which RED group is an investor as I understand it.
Meanwhile, Amazon UK has reportedly just announced free delivery to Australia.
What an amazing day for book retailing around the world! Amazing in the sense of the combined effects of disruption to print, online sales, the knock effects of the GFC and the high Aussie dollar.
As I mentioned earlier today, anyone relying on print products in retail need to take notice.