Swets in UK owes creditors £7.5m

Swets in UK owes creditors £7.5m

Swets Information Services Ltd, the British wing of bankrupt Dutch subscriptions company Swets Information Services BV, has unsecured debts of £7.5m, according to administrator Baker Tilly.

In a statement prepared for Companies House, the administrator said that £6.5m of that total was made up of subscription pre-payments made by libraries and other institutions, and £953,756 was "employee-related claims". One hundred and twenty members of staff were made redundant when the UK company entered administration in October.

The administrators said they considered the UK company would have "ins...

This is subscriber-only content

Not a subscriber? Get unrestricted access to all the news, charts, previews, data & analysis by subscribing from as little as £3 per week.


Why Subscribe?

Every issue of The Bookseller magazine

Unlimited access to thebookseller.com (single user)

The Bookseller e-edition app for tablet and mobile

Subscriber-only newsletters

Twice yearly Buyer's Guides worth £50

Discounts on The Bookseller Awards and Conferences

Click here to subscribe now