Tue, 25 Feb 2014 | ADMINISTRATION
Computer Bookshops Limited (CBL) – a wholesaler and retailer of books, software and digital media – has entered administration with 24 jobs lost as an immediate result.
The Birmingham-based company was founded in 1978 and has over 350,000 titles in its portfolio. However, the firm could not avoid administration after one of its key suppliers left the market and sales declined.
Grant Thornton was appointed as CBL’s administrator and the immediate decision was taken to cut 24 employees’ jobs. David Bennett and Nigel Morrison of Grant Thornton have kept a staff of 26 to help continue the company’s trading while they look for a sale.
CBL’s key divisions include wholesaler CBL distribution, its web-based training provider cblearning.com, and its retail websites such as bookaxis.com and computermanuals.co.uk.
David Bennett, partner in Grant Thornton’s advisory team based in Birmingham, said: “CBL boasts an enviable breadth of customer relationships, with a reputation for service delivery which is second to none in the sector.
“It has a strong online presence, which has seen significant growth in recent years and an expanding range of titles, including business books, lifestyle titles and gaming manuals.”
In his statement, Bennett added that despite all this, administrators had been called upon because of CBL’s failure to “diversify quickly enough” following the decline of the high street book market and the fact that one of its main suppliers had left the market.
______________________________________________________________________
Related information:
Profit from buying a distressed business
Project Richmond provides complete, software-led warehouse management solutions and projects that aim to automate various processes, ultimately improving clients’ operational accuracy and efficiency and reducing expenditure.
The company specialises in the provision of high-quality technical training programmes. Utilising a skilled network of trainers, the business primarily delivers certified courses that enable delegates to attain coveted qualifications.
The company provides end-to-end, turnkey design, engineering and consultancy solutions, primarily working within prominent industries throughout the UK.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.