Two businesses bought out, another one closes

Just before Christmas, on 21st December, Christian charity IBS-STL confirmed the sale of the Wesley Owen trading name and website and eight of its bookstores to Australian firm Koorong. Koorong also acquired another division from IBS-STL: Authentic Book Publishing. Six other Wesley Owen stores were bought by CLC International; another 26 stores remain. The charity itself was put into administration.

In the first week of the new year, the online business of bankrupt bookseller Borders was sold—but its website will not be revived. Borders fell into administration on 26th November and ceased operations on 29th December after administrator MCR failed to sell the business as a going concern. Borders’ customer database, along with the brand and website of sister brand Books etc, was sold to the Capital Organisation; the business will be split between its Capital Ideas Retail Online (CIRO) and Capital Data divisions. CIRO will add Books etc to its stable of websites, which include CD/DVD etailer Goodmusic.co.uk and second-hand books and laptops website SellStudentStuff.com.

Another casualty of 2009 was Frock, a fashion boutique founded in 2007. As of mid-January it was running a closing-down sale on its website. In a message on the site, founder Rachel Perrett told customers that “being a new business has meant that we have struggled through the credit crunch and are having to close the doors on Frock for now”. In 2008, Perrett was named as one of the top 10 entrepreneurs in the fashion and retail category of the Courvoisier the Future 500.