Wed, 17/12/2008 - 15:48
Woolworths' administrator Deloitte is to close all of the retail chain's 807 stores by January 5th. However, wholesaler Entertainment UK, which made 700 workers redundant last Friday as it began a scale-down, will continue to trade as the administrator seek a buyer.
No new book supply has left EUK since 5th December. Publishers...
Tue, 16/12/2008 - 14:28
Supermarket Morrisons has signed a distribution agreement with Keighley based wholesaler Reedmoor, after its former supplier EUK went into administration. Reedmoor had already been supplying the supermarket chain with promotional stock but it will now be supplying Morrisons will all book stock.
The administrators of EUK confirmed a scale...
Mon, 15/12/2008 - 07:07
Bertrams/THE m.d. Michael Neil has said EUK's scale-down would not affect its attempts to find a new buyer. Talks are continuing with a number of interested parties for the sale of the Norwich-based wholesaler. Neil said that the books wholesaler was not working under a set timescale for its sale. But he added: "We have to be realistic...
Fri, 12/12/2008 - 15:56
A headline figure of £25m for publishers' exposure to EUK has emerged as the stricken distributor axed 700 posts, with as much as £10m still left at EUK's various depots.
Ian Hudson, Publishers Association president and number two at Random House, put an invoice value of £25m on the book stock held by EUK at the...
Fri, 12/12/2008 - 12:33
Woolworths' administrator Deloitte has confirmed that it is to scale down efforts to sell EUK as a going concern. But it stressed that Bertrams Books, a fully owned subsidiary of EUK, and 2Entertain, a joint venture between EUK and BBC Worldwide, would continue to trade as usual.
As exclusively revealed on theBookseller.com this...
Fri, 12/12/2008 - 11:26
Woolworths' administrator Deloitte has begun winding down wholesaler EUK after failing to find a buyer, The Bookseller understands. Around seven hundred staff will lose their jobs at the end of today [Friday]. Deloitte is expected to make an announcement later today.
Staff were told this morning (12th December) that the last...
Fri, 12/12/2008 - 08:22
Woolworths saw its biggest-ever day's trading yesterday (Thursday) after administrator Deloitte launched a closing-down sale across the 800-store chain.
There were queues hundreds deep outside dozens of stores prior to opening and some branches were forced to close early due to empty shelves. A source close to Deloitte said the chain...
Fri, 12/12/2008 - 08:20
Creditors of Zavvi have parachuted an emergency restructuring team from Ernst & Young into the struggling high street retailer, which previously traded as Virgin Megastores.
Deloitte, which is the administrator of EUK, the distribution arm of Woolworths and Zavvi’s biggest creditor, has drafted E&Y into the retailer as the...
Wed, 10/12/2008 - 17:04
The joint administrators to Woolworths have confirmed that a store closing sale will begin tomorrow (11th December). However, Deloitte said it was continuing to actively seek buyers for Woolworths assets and negotiations with a number of interested parties were ongoing.
But there was no comment about Entertainment UK, with reports today...
Wed, 10/12/2008 - 14:52
Tesco is to start supplying its supermarkets with books via its in-house distributor Oakwood from tomorrow, two weeks after its existing supplier EUK fell into administration. Oakwood, formerly known as Handleman, used to supply Asda with books before it switched to direct supply: Tesco bought it earlier this year.
The supermarket said...