Kobo calls for calm over bookstore bankruptcy

Kobo calls for calm over bookstore bankruptcy

Users of the Kobo eBook clairvoyant should not be afraid by the autonomous administering of Borders Australia, Angus & Robertson and Whitcoulls NZ bookstores, ancestor aggregation RedGroup Retail has claimed.

Private equity-backed RedGroup appointed administrators Ferrier Hodgson yesterday for more than 250 bookstores, which collectively employed some 2,500 staff.

A agent for RedGroup's ebook abundance and accouterments accomplice Kobo told iTnews that the added than 50,000 Australians who bought a Kobo eBook clairvoyant accept no account to anguish because Borders Australia and Angus and Robertson are alone retail distributors.

Canada-based Kobo said it controls the ebook ecosystem - including firmware updates, helpdesk and deals with Australian and all-embracing publishers - behindhand of the accompaniment of bounded retail partners.Wholesale Cell Phones

The move by RedGroup's lath to put their bookstore chains into autonomous administering came 24 hours afterwards US based bookselling alternation Borders filed for Chapter 11 defalcation aegis in adjustment to restructure.

Although Borders Australia shares its name with the US bookchain, the aggregation fatigued that "Borders food in Australia, New Zealand and Singapore are 100 per cent endemic by RedGroup, a bounded Australian clandestine company" and "our food accept no accord or articulation with Borders food in the US".

RedGroup administrator Steven Cain reportedly abhorrent acceptation restrictions and GST-free online arcade for authoritative it absurd for bounded retailers to attack with adopted internet sites such as Amazon.com.

Last month, Borders and Angus & Robertson abutting added ample Australian retailers like Myer in calling on the Federal Government to alter its taxation laws.

The accumulation of 2,211 retail food complained that adopted etailers enjoyed GST-free sales on appurtenances and casework awash for beneath than $1000, whilst bounded artery and adhesive outlets were burdened for a acquirement of the aforementioned value.

Ferrier Hodgson accomplice Steve Sherman said in a account to the media that "as far as accessible it would be business as accepted while the administrators conduct an burning appraisal of the business's banking cachet and adapt for the aboriginal affair of creditors."

It is acceptable that Borders Australia, Angus and Robertson and Whitcoulls will chase in the footsteps of the US Borders that is accepted to attack to pay bottomward debts by shutting barren shops and slashing its workforce.

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