The Bookseller.com

6th October 2008

101 jobs go at Premier Direct

17.06.08 Alison Flood

Direct bookseller Premier Direct has made 101 employees redundant after it was placed into administration yesterday (Monday). Twenty members of staff remain at the gifts and books retailer.

Kroll partner Simon Wilson, who was appointed as joint administrator of the company along with Scott Gaillie, said: "Despite strenuous efforts to secure funding in recent weeks, the companies were forced to cease trading and the business was placed into administration. Regrettably, we can confirm that 101 employees have been made redundant. The remaining 20 employees will be kept informed of all notable developments."

He added: "We appreciate that this is a concerning time for employees but despite having fully explored options for the sale of the business, the situation is now one of realising its assets.”

Kroll said that Premier Direct faced cash flow difficulties due to challenging trading conditions over a sustained period. An announcement yesterday said that the business took the decision to appoint Kroll after running out of financial and strategic options.

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