Australian online bookseller Booktopia in freefall as administrators called in (www.abc.net.au)

submitted 1 week ago by MHLoppy@fedia.io to c/news@aussie.zone

6 comments fedilink hide all child comments

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.

you are viewing a single comment's thread
view the rest of the comments

[-] MHLoppy@fedia.io 4 points 1 week ago

In its initial public offering in 2020, Booktopia issued shares at $2.30 and debuted on the ASX at $2.86.

The stock has since lost more than 98 per cent and last traded at $0.045.

..wow lol