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Last Updated: Thursday, 29 March 2007, 12:48 GMT 13:48 UK
Book company sale saves 160 jobs
Bookworld
The deal will see 26 Bookworld shops transferred to The Works
A bookshop firm threatened with closure has been sold, securing 160 jobs in Scotland and England.

The Scottish owners of Bookworld, Bargain Books and bw! went into administration a month ago, with some branches closing almost immediately.

Parent company David Flatman Ltd has sold its retail division to The Works, saving 26 shops.

A separate management buyout team has purchased the company's publishing arm, Lomond Books.

Birmingham firm The Works said it will integrate the 26 stores and 155 staff into its network of more than 300 shops.

'Excellent news'

Five staff from Lomond Publishing have been transferred to the new company.

Nine of the saved shops where 67 of the staff are employed are in Scotland.

Two of the shops are in Glasgow, two are in Aberdeen and the other stores are in Edinburgh, Dundee, Livingston, Ayr and Renfrew.

Joint administrator, Tom MacLennan, said the sale was excellent news for staff, customers, suppliers and creditors.

"The deals mean continuity of employment for 160 staff and a very positive future for the two businesses."

Derek Hine, chief executive of The Works, said: "Bookworld has long been renowned for the quality of its staff and we are pleased to welcome 155 colleagues into the business."

Trevor Maher, managing director of Lomond Books, said he welcomed the opportunity to continue and expand.




SEE ALSO
Buyer lined up for book company
07 Mar 07 |  Scotland
'Interest' in troubled book firm
21 Feb 07 |  Scotland
Bargain bookstore closes branches
12 Feb 07 |  Scotland

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