30 Apr 2011

Bennetts bookshops sold to NZ company

12:05 pm on 30 April 2011

The Bennetts bookstore chain has been bought by a family-owned New Zealand company, securing 30 jobs.

The future of the bookshops had been uncertain since Australian based owner REDgroup Retail put itself into voluntary administration in February.

REDgroup Retail owns more than 300 bookstores in the Asia-Pacific region, including Whitcoulls and Bennetts, and has recently closed 38 shops in Australia with the loss of 321 jobs.

Newly-formed company Bennetts Bookstores Ltd announced on Friday it had bought the eight Bennetts shops for an undisclosed sum.

Managing director Geoff Spong is the founder of university textbook retailer VOL. 1.

Mr Spong says that since Bennetts stores are located in universities and polytechnics throughout the country the company will focus on the needs of lecturers and students.

He says 30 front-line staff have agreed to continue their employment, and he hopes Bennetts will eventually expand into every tertiary education provider in the country.