Oxford-based Christian publisher Lion Hudson has gone into administration, it has been confirmed by the company's appointed administrators, business advisory firm FRP Advisory.
A spokesperson for FRP advisory told The Bookseller it was now seeking new investment as part of the new restructuring plans that "may include a sale of all the parts of the business".
The news follows 35 redundancies at the publisher at the end of January - two thirds of its staff. Some of the former employees have launched a new venture spearheaded by Lion Hudson's former head of European sales, Andrew Wormleighton, called Lion Sales Services, which is continuing to represent Lion Hudson’s five imprints to the UK Christian and book trade.
The FRP spokesperson said: "The company is now in administration. The administrators are working with management and continue to trade the business as normal. All the staff that were with Lion Hudson when it went into administration continue to work for the company. The business continues to liaise with suppliers, authors, booksellers and other parties while the administrators market the business for sale, as part of the plans for seeking new investment."
He added: "Arrangements have been put in place as part of the restructuring to ensure all the authors and publishing arrangements are safeguarded in the best interests of all concerned."
Suzanne Wilson-Higgins, managing director of Lion Hudson PLC, commented: "Lion Hudson continues to trade as normal while work continues with our advisors to focus on the business, our array of loyal authors, publishing arrangements and of course staff. This is a long-standing publishing business with a unique history and offering and we look forward to working with our advisors towards the next stage in its evolution to ensure the best possible outcome for all involved to safeguard the interests of our authors and another generation of readers both in Britain and across the world."
Interested parties are invited to make early contact with FRP at its London office.