Administrators of REDgroup Retail (Ferrier Hodgson), owner of the Angus & Robertson and Borders book chains in Australia, have put the group on the block. But what are they selling? The brand equity is in the toilet and the supply chain clearly wasn’t working (otherwise they wouldn’t be insolvent). Expect to see more pain in the sector.
PS. Indie bookstores working hard to reach their local community will do well, for a while.