Computer Bookshops enters administration with loss of 24 jobs
BIRMINGHAM-based Computer Bookshops Limited (CBL) has gone into administration with the immediate loss of 24 jobs.
Another 26 members of staff at the Sparkhill firm – which is a wholesaler and retailer of books, software and digital media – have been kept on by the administrators, David Bennett and Nigel Morrison of Grant Thornton, to continue to trade the business.
The administrators are hoping to selling CBL as a going concern.
Formed in 1978, CBL’s key divisions include wholesaler CBL Distribution, online retail sites such as bookaxis.com, web-based training provider cblearning.com and specialist online outlets such as computermanuals.co.uk.
CBL has built a portfolio of more than 350,000 titles and developed a number of exclusive arrangements with publishers. The business operates on a multi-channel basis, selling to centralised retailers and distributors, web retailers, and direct to consumers.
Co-administrator Bennett, a partner in Grant Thornton’s advisory team 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.
“Unfortunately, due to a key supplier recently pulling out of the books market and deterioration in the High Street book trade, CBL has experienced an overall decline in sales.
“Despite making changes to its business model and achieving growth in certain divisions, CBL has not been able to diversify quickly enough and the directors took the decision to appoint Grant Thornton as administrators.”
