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

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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.

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[-] Gorgritch_umie_killa@aussie.zone 8 points 1 week 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.