One of the 2 major UK wholesalers, Bertrams Group has gone bankrupt and the business has gone into administration. The UK publishing newsletter BookBrunch confirmed the same by giving out a statement on behalf of the administrator Turpin Barker Armstrong (TBA).
The statement reads, “We can confirm that Bertram Trading Limited, the global book wholesaler, has entered administration along with Education Umbrella Limited, a supplier of textbooks and digital education resources and Dawson Books Limited, an academic and professional library supplier. Book wholesalers have suffered from falling demand in recent years due to changes in the distribution model for literature and the rising popularity of e-books. These factors, combined with the Covid-19 related closure of many public libraries and educational facilities, meant these businesses could no longer operate viably.”
The agreement with two parties to sell is made according to TBA. “The tangible assets and unencumbered stock of Bertram Trading Limited and for the intangible assets of Education Umbrella Limited and it is hoped that these will be completed shortly.”
The majority of the employees have been let go due to the bankruptcy and so the TBA said, “With a small number retained to manage the winding down of operations. We are liaising with all employees impacted regarding their statutory rights and to direct them to support from the relevant government agencies.”
Yet, there’s no declaration on how much money is to be paid to the creditors.
Aurelius is the parent company of the Bertrams Group which was behind the advertisement. Bertram was described as ‘a leading B2B Books Wholesaler’. The Bertram’s annual turnover went up to £250 million. Its warehouse was spread across 185,000 square feet and had 200,000 titles in the stock.
This entire bankruptcy has left Gardners as the only national wholesaler in the UK.
22 June 2020.”Clock Stops For Bertrams As It Goes Into Administration”
BookBrucnh.n.p., Retrieved from http://www.bookbrunch.co.uk/article/results/?SF1=cms_type_code&ST1=news&pl=10&sort=sort_date/d&m=0&ds=News