Retail Week reportsthat books, art and craft retailer The Works is set to buy Bargain Books, Bookworld and bw!, the retail division of David Flatman, according to joint administrator Tenon. The Works – which has 280 stores and trades online – is hoping to acquire Bookworld’s property interests, intellectual property, fixtures, fittings, goodwill and stock. The retailer proposes to integrate 27 stores into its network and retain about 206 employees. The administrator will close the remaining 11 shops over a phased period while the sale is concluded.
The Works chairman Tim Brookes said: “We have long admired the business of David Flatman and particularly the quality of staff in stores. The combination of the two businesses will provide substantial benefits to the staff, our suppliers and above all, our customers. Following the merger, The Works will have more than 300 stores throughout the UK.”