Last month it was reported in The Dog Blog, that the famous bookstore chain, BookWorld, BW!, and Bargain Books was to close its doors. We are happy to announce that the firm was recently sold and the chain will survive for now at least.
The Scottish owners of the chain went into administration several weeks ago, and although some branches closed almost at the time, the buyout means that the remaining 160 jobs in Scotland and England are now safe.
The buyout happened when parent company David Flatman Ltd, sold its retail division to The Works, thereby, saving a total of 26 shops across the country.
A separate management buyout team has purchased the company's publishing arm, Lomond Books. Joint administrator, Tom MacLennan, said; “the sale is excellent news for staff, customers, suppliers and creditors. It will 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."