Element in receivership after HC talks fail

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Element Books was placed in receivership on Tuesday (15th August) after talks with HarperCollins collapsed. A statement issued the same day by HC said that it had decided not to pursue a bid. No reason was given for the collapse of the talks, which were revealed in The Bookseller last week.</p><p>
Arthur Andersen, which was appointed as receiver, said it hoped to sell the business as a going concern, despite indications that all potential buyers had pulled out. "We will look closely at the financial structure and put together an information memorandum for interested parties. The busines...

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