WELL-KNOWN retailer British Bookshops and Stationers has gone into administration.
The company has a branch in Broad Street in Seaford, as well as a presence in Eastbourne and Hailsham town centres.
Administrators Zolfo Cooper said the stores would continue trading while it considered all possible options.
Partner at Zolfo Cooper, Simon Appell said, “The appointment is unfortunately the result of cash flow difficulties suffered by the business, coupled with the tough trading climate for retailers and especially booksellers at present.
“This is an attractive company with a large network of stores across the south of England and we have already received expressions of interest from potential buyers.
“In the meantime, we would like to thank staff for their patience and continued professionalism during this difficult period.”
Zolfo Cooper partners Simon Appell, Fraser Gray and Stuart Mackellar, were appointed joint administrators of British Bookshops and Stationers Limited on January 13.
The company operates 51 bookshops, with the majority across the South of England.
British Bookshops and Stationers employs approximately 300 staff. On appointment no redundancies were made.
Hopeful bidders for the retailer had until yesterday (January 25) to submit their offers.
Gerri Ori, president of the Seaford Chamber of Commerce, said, “It’s an established store in the town centre. The town centre seems to be vibrant and most of the shops are filled. It would be a shame to see it go. It’s quite a good shop and I’m sure it does well.”