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Sales rep force Amalgamated Book Services has been put into administration after its owner and director Richard Squibb suffered a stroke last month.
The decision to wind up the company, believed to be due to a combination of Squibb's bad health and financial difficulties, leaves six full-time members of staff at risk of losing their jobs.
Shortly before closure on 24th July, ABS co-director and Richard's wife Sarah told client publishers that she felt unable to continue supporting the company given the circumstances.
Despite having "streamlined ABS over the last nine months" the company had "unfortunately lost several clients this year, and . . . it has become clear that ABS cannot carry on without more funding," Squibb explained in a letter to publishers. The most recent company accounts, which cover the year to end-2007, showed a loss of nearly £50,000, compared with a profit of more than £260,000 in 2006.
Last year, The Bookseller revealed that distributor Art Books International, owned by the Squibbs' company Vine House International, had gone into voluntary liquidation and was facing legal action from at least 12 publishers.
ABS' results show ABI owed nearly £11,000 at the balance sheet date.
Ms Squibb was unavailable, and administrator John Walters declined to comment. However, Paul Cook, senior account manager for the Uckfield-based ABS, said: "Obviously it's a sad and worrying time for the staff [but] I have received a lot of messages of support."