Whitcoulls’ flagship Queen Street store will close on Saturday for stocktaking as administrators of its troubled parent company prepare to offload the iconic bookseller chain.
NBR understands a deal to sell the New Zealand business is imminent with local buyers having been involved in the bidding process.
Whitcoulls was placed in administration in February when its Australian parent company, RedGroup Retail, collapsed under a mountain of debt.
Administrators Ferrier Hodgson would not take calls yesterday but a local spokeswoman said they were hoping to make an announcement relating to the sale later this week.
This time around there are no obvious trade buyers, although names like PaperPlus, Dymocks and even Harvey Norman have been speculated on.
Photo - Chris Skelton.
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