The Australian online bookstore has announced it has appointed administrators to possibly restructure or sell the business after a year of losses.
  • In short: Australian book retailer Booktopia has gone into voluntary administration.
  • The company has been trading at a loss for over a year and earlier made 50 staff redundant.
  • What’s next? Administrators are looking at selling or restructuring the main Booktopia business and its three subsidiaries.
  • Gorgritch_Umie_Killa@aussie.zone
    61·
    4 days ago

    “It’s not an industry problem, it’s a particular business problem,” Mr Egan said, describing the business’ structure and scale as a “value-destruction exercise”.

    This little statement is so under-explained, and yet its probably the most important statement in the article.

    Instead of wasting a bunch of lines at the end by tacking on that human interest story trash, the writer/editor should have spent those words explaining the problem with the business structure.