Buzz People

The Book People goes into administration

Book retailer The Book People has filed for administration with just one week to go before Christmas.
PricewaterhouseCoopers (PwC) has been appointed as the administrator while the troubled firm looks for a buyer.
Founded in 1988 in Godalming, Surrey, The Book People has faced stiff competition from Amazon and other online retailers over the last decade.
The business will continue to trade and there are no plans to make any of the 393 employees redundant, PwC said.
As a result, customers should receive their orders in time for Christmas.
The majority of the business's employees - 229 - are based in Bangor, Gwynedd.
The firm sells books, gifts, toys and stationery online and via a catalogue, often at discounted prices. It has an annual turnover of £50m and sells more than 17 million children's books a year, PwC said.
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