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| Angus and Robertson in surprise sale |
   
Posted Date: 08/11/2011
By Inside Retail
Angus & Robertson has been acquired by Supanews Retail in the group’s first major purchase since being sold off during RedGroup Retail’s voluntary administration.
Supanews - which operates 52 newsagents across the country - now has the sole rights to operate Angus & Robertson physical bookstores, of which there are currently five.
Three of those sites have been re-opened by the Group in the last month, with the other two the only existing franchises following significant closures of the brand’s sites in recent months.
“There’s no doubt about it - bookstores have had some bad press over the last 12 months. But people still want to buy physical books, and they want to buy them from Australian-owned, local businesses,” says Adrian Gaskin, MD of Supanews.
The Gaskin family, which founded Supanews in 1992 but only regained 100 per cent ownership of it in August following RedGroup’s demise, is looking to expand Angus & Robertson in the long term “through sustainable and incremental growth”.
“The task of rebuilding the Angus & Robertson network is challenging, but we are confident that we can apply our core principles of hard work, integrity, collaborative and long-term relationships to the book retailing sector,” said Gaskin. |
Tuesday, November 08, 2011 by Stephen
It will be a huge journey to rebuild any Redgroup brand following the bitter taste left in the mouths of customers who had Gift Cards.
I wonder what they will do for a website now that Pearson own the domain name?
Stephen
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