BB&S owes £6.3m to  unsecured creditors

BB&S owes £6.3m to unsecured creditors

British Bookshops and Stationers owes £6.3m to its unsecured creditors, it has been revealed.

A statement of the troubled company's financial affairs released over the weekend showed that while owing the vast sum, BB&S could only afford to pay out £2.2m.

This leaves many companies that will not be paid after the bookseller fell into administration in January.

Among the companies owed sums of money is Hachette, whose Bookpoint and Littlehampton Book Services distribution companies are owed £440,053 and £644,747 respectively. Random House's distribution company The Book Service is owed £443,317. Both Macmillan Distribution and HarperCollins are due around £500,000.

Restructuring specialists G A Europe, a preferred creditor in the business, is owed £131,729. Former BB&S managing director John Simpson is owed £82,065.

Last week, W H Smith acquired 22 of the 51 British Bookshops and Stationers stores, for £1m saving 200 jobs.

Zolfo Cooper, the administrators dealing with the aftermath of BB&S say they are still "actively pursuing" opportunities for the remaining stores, but head office staff have been made redundant.

The stores are continuing to trade until their fate has been decided.