Monday, 14 February 2011

BB&S Debts announced

The financial debts of troubled British Bookshops and Stationers were announced over the weekend, reports The Bookseller. Following close on the heels of news last week that W H Smith had acquired 22 of the chain's stores for £1m, the full details of outstanding money to unsecured creditors was revealed: £6.3m, with BB&S only being able to pay out a total of £2.2m, despite W H Smith buying 22 stores for £1m (as mentioned here).

Those owed large sums are: Hachette companies (Bookpoint, and Littlehampton Book Services) for just over £1m, Random House's distribution company The Book Service $443,317 and both Macmillan Distribution and HarperCollins each for approx. £500,000.

Zolfo Cooper, the administrators dealing with BB&S say they are still "actively pursuing" opportunities for the remaining stores, which continue to trade until decisions are made as to their future.

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