After being taken over by the owner of an online camera store, Booktopia has been saved from financial trouble.

Recently, there has been quite a buzz surrounding the popular online bookseller, Booktopia. Last month, the company unfortunately entered administration and many were worried about its future. However, it seems that there is good news on the horizon as online camera store digiDirect has taken over and rescued Booktopia.

According to the administrators, McGrathNicol Restructuring, digiDirect's owner, Shant Kradjian, has also announced plans to hire an additional 100 staff to add to the ones who are still with the company. This is a positive development for both the company and its employees. In fact, former staff members are also being encouraged to rejoin the team.

In addition to the sale, digiDirect is also offering special arrangements to customers with unredeemed gift cards. This shows their commitment to the company and its customers. Administrator Keith Crawford expressed his pleasure at the completion of the sale, stating that it will not only ensure the retention of all remaining employees but also bring in new ones. This, in turn, will guarantee continuity of supply for Booktopia's trade creditors.

The sale of Booktopia to a well-known Australian retailer has been seen as a great outcome for everyone involved. Crawford also thanked Moneytech, the company's secured creditor, for providing funding during the administrative period. However, it's been reported that the sale price, although not disclosed, will not be enough to provide a return to shareholders.

Looking ahead, administrators are now preparing for a second meeting with Booktopia's creditors. This will help to keep everyone updated on the company's progress and future plans. In the meantime, for those who want to stay on top of the latest news, celebrity gossip, and sports updates, there is also an option to follow Booktopia on their WhatsApp channel. This way, one can stay informed about all the breaking news without any unwanted comments, algorithms, or privacy concerns.

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