Christian charity in administration as book chain broken up

WESLEY Owen, the UK’s largest chain of Christian bookshops, is to be broken up following the administration of Carlisle-based Christian Charity, IBS-STL UK.

Administrators at Baker Tilly  have sold 14 of the 40 Wesley Owen  book stores, along with trading divisions Authentic Media and STL Distribution.

Eight Wesley Owen Stores in Bath, Birmingham, Bristol, Bromley, Coleraine, Derby, Glasgow and York have been sold to Sydney-based Koorong, which already operates 18 stores throughout Australia.

Koorong has also bought Authentic Book Publishing, along with all of the Authentic and Paternoster intellectual property and author contracts, the freehold properties in Glasgow and York, the Wesley Owen trading name, and the domain name, wesleyowen.com.

A further six Wesley Owen stores, in Bolton, Cambridge, Coventry, Guildford, Kingston and Stockport, have been acquired by CLC International (UK) which operates as CLC Bookshops.

STL Distribution has been purchased by John Ritchie, a book publisher and distributor based in Kilmarnock, Scotland that is a subsidiary of The Lord’s Work Trust, which supports Christian projects around the world.

John Ritchie has purchased all of the Carlisle properties and intends to retain Carlisle as a major base of operation. The business will continue to trade as STL Distribution.

Authentic Music, based in Milton Keynes, has been bought by Kingsway Communications operating from Eastbourne.

Keith Danby chief executive of IBS-STL UK, said: “I could not have imagined five weeks ago such a positive outcome. All along we have had three goals in mind; the continuity of the distribution of Christian resources, safeguarding as many jobs as possible, and finding purchasers who would invest in the businesses and take them to a new level. We believe all of the purchasers fit these aspirations and we wish them every success going forward.”

Administrators are continuing to trade from each of the remaining 26 Wesley Owen stores, including stores in Chester, Manchester, Carlisle, Liverpool, Macclesfield, and are calling for expressions of  interest.

Russell Cash, partner at Baker Tilly in Manchester, said: “Whilst 14 of the retail outlets are now being operated by CLC and Koorong, we are keen to explore interest in the remaining 26 stores with a view to securing a future in the medium to long term. Each of the stores are currently continuing to trade under our control.”