Living Oasis owner enters insolvency

Living Oasis owner enters insolvency

The parent company of Living Oasis bookshops has entered insolvency.

Suppliers were issued with an insolvency notice for The Nationwide Christian Trust (NCT), signed by its owner Ray George, on 1st August. The first meeting for creditors will take place in Essex on 17th August.

Along with running the 19 former Wesley Owen bookshops under the name Living Oasis, the NCT also ran courses and events at Mulberry House in High Ongar, Essex.

In the last four months the Living Oasis shop portfolio has fallen from 19 to two, with only Harrogate and Watford branches left trading.

George told The Bookseller last week that the Christian bookselling chain had been put up for sale. He had said: “We have lost £1.2m in the last year and we are pulling out of book retailing. It is us too much for us to continue with, we cannot face these losses.” He indicated  the NCT had borne the brunt of the financial strain.

When contacted, a spokeswoman for George said he will soon be releasing a statement about the situation.