Deal agreed over Watkins Books
15.03.10 | Victoria Gallagher
Watkins Books has been saved by American entrepreneur, Etan Ilfeld, just two weeks before the business was due to be liquidated. Contracts have now been signed between insolvency practitioners Harris Lipman, Edward Symmons and Ilfeld. Ilfeld has purchased the business in its entirety for an undisclosed sum.
Ilfeld said: "It's not everyday that you have the opportunity to save a century old business. I don't believe that spirituality in London is dead and will do my best to ensure that Watkins Books will be sustainable and survive the 21st century."
Watkins Books closed on 23rd February following the appointment of administrator Harris Lipman. The administrator announced at the beginning of March that Watkins would be placed in liquidation at the end of the month unless a buyer came forward.
Steve Mason, partner at Edward Symmons, said: "Having been appointed by Harris Lipman only two weeks ago, we are delighted to have secured a buyer for Watkins Books. We are even more pleased to learn of Mr Ilfeld's plans to get the shop back up and running in its existing form."
The London esoteric bookshop was founded in 1897 and moved to Cecil Court in 1901. Ilfeld owns art gallery Tenderpixel, which is also situated in the London side-street Cecil Court.
Comments on this article
By Daphne Bentwater
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By Crowley
Fantastic to know that Watkins will survive. Angel of Light - did you know that in some traditions, the Angel of Light is known as Lucifer? Try reading instead of Burnin'.13 Mar 10 17:08
By daniel zane
What a great buyer, the business will thrive, I am sure of it daniel zane13 May 10 19:29
By book lover
so pleased to hear it is to be saved. Etan Ilfeld - brilliant! having worked at the store and knowing what a great resource the store is, this is good good news.28 Jun 10 16:15
