The Book People has called in administrators for the second time in a bid to secure its future.
The online book retailer, owned by private equity firm Endless, has asked PwC to oversee an insolvency process.
Several “credible” parties have shown an interest in the struggling retailer, a source told Sky News.
The Surrey-based retailer employs up to 400 people during its busiest periods however no redundancies will be made while the administration process is underway.
Endless partner James Wooley said: “Over more than five years, we secured more than 300 jobs and appointed strong new management to modernise the business.
“Nonetheless, the well-documented challenges in the retail environment compounded by the strength of global online booksellers has severely impacted operating cashflows over recent years.”
One source close to the process told Sky News “the Amazon effect” was to blame for the retailer falling into administration.
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