Resolution expected soon for Wesley Owen

<p>The administrators for Wesley Owen have said they expect a resolution for the remaining 26 stores by the end of January or early February, after the Christian bookselling chain went into administration in December. <br /><br />Russell Cash, partner at Baker Tilly Restructuring &amp; Recovery, said the stores would most likely continue to trade for the rest of January, with closing down sales to drive sales. </p><p>&quot;We expect a resolution in the last week of January or the first week of February,&quot; he said. &quot;Of the remaining 26 we&#39;ve got level of interest in all of them and in some of them multiple interest.&quot; </p><p>Cash added that some stores had up to 11 interested parties. &quot;Some may be interested in selling Christian books for the next 50 years, some may want to do something completely different.&quot;<br /><br />Wesley Owen&#39;s parent IBS-STL went into administration in December after it experienced a succession of financial problems. Of the 40 original shops, <a href="../news/107475-competitors-save-14-wesley-owen-branches.html" target="_blank">eight have since been bought by Christian bookseller Koorong, as well as the Wesley Owen trading name and website domain and six by bookselling chain, Christian Literature Crusade International</a> (CLC). </p><p>Mark Clifford, chairman of the Booksellers Association&#39;s Christian Booksellers Group, said it was hard to tell how it would &quot;pan out&quot;. He added: &quot;Obviously it&#39;s not good for the book trade - having lost 23 SPCK shops&nbsp; and now there&#39;s a possibility of losing 26 Wesley Owen stores - that&#39;s 49 shops in two years.&quot;<br /><br />Clifford added: &quot;There is still the need for community based bookshops. If you can offer something specific to your community then you&#39;ve got a chance.&quot;</p>