Eight Bennetts bookstores at New Zealand universities have been sold by the administrator of their Australian owner.
The administrators of REDgroup Retail, which owns Whitcoulls, Borders New Zealand and Bennetts stores, have been conducting a sale process and have shut some stores in Australia.
The administrators are selling the Bennetts
business to a new company called Bennetts Bookstores Ltd, which is owned by a private investor, Geoff Spong, the former owner of textbook retailer VOL.1 Bookshops.
Stores were sold at the Massey University campuses (Palmerston North, Auckland and Wellington); Waikato University Hamilton; Waikato Polytechnic; Christchurch Polytechnic; and Manukau Polytechnic, as well as the Bennetts Government Bookshop over the road from Parliament in Wellington.
Administrator Steve Sherman said Spong was a "good match" to the business: "The Bennetts business will continue to serve the New Zealand universities market. Importantly, this guarantees the future of these stores and has preserved more than 30 jobs."
But a Bennetts site inside a Borders store will be closed, with the affected staff to be offered similar employment within the Whitcoulls network.
Last month, the administrators sold the Whitcoulls stores in Auckland, Wellington, Christchurch and Rotorua airports, to LS Travel Retail Pacific, a travel retail specialist, to be rebadged under the Relay brand.
The REDgroup business in New Zealand had 63 Whitcoulls, five Borders and nine Bennetts stores when it was put into administration.
- NZPA
