Ferrier Hodgson have basically said that there won't be a RedGroup in the not too distant future. This is a clear sign that the best we can hope for is that parts of the company will be sold off, but that assumes that someone will want a bookstore chain in this economy.
Still no word yet on what will happen to Redgroup's interest in Kobo.
If you're just getting into the story, let me give you some background. RedGroup Retail is an company that was formed when a private equity firm bought up several Australian bookstore chains: Angus & Robertson, Borders AU, and Whitcoulls (in New Zealand). Due to the poor economy and the private equity firm's general ineptitude, Redgroup was run into the ground. They filed for administration back in February.
For past stories on the Redgroup bankruptcy, click here.
via Bookseller & Publisher