Nicky Lee seller put on market
18 Nov 2009
Bookstore Wesley Owen up for sale.
Christian bookshop chain Wesley Owen, which sells titles including Nicky Lee's
The Parenting Book, has been put up for sale.
The bookstore's sister company STL Distribution and publisher Authentic Media have also been put on the market as a result of financial difficulties experienced by parent company IBS-STL UK, the Christian book and bible charity.
Keith Danby, president of US-based Biblica and head of the emergency group tasked with selling the UK-based businesses, said the decision to sell was unavoidable.
He commented: "Given the severe financial and operational strains we have experienced, the Board of Trustees and management team believe a sale or exit from all or parts of certain operations is a prudent and necessary step."
Should the company fail to find an appropriate buyer, as many as 490 jobs are feared to be at risk.
IBS-STL UK was founded in 1962.
ISBN: 9781905887361
by Jade Caulfield
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