Central Wellington bookshop Dymocks has been placed in liquidation with the loss of 12 jobs, following the recent closure of another Dymocks store in Auckland.
Franchise owner Chandler Beck Books, owned by long-time members of the book trade Bruce and Janis Caddy, had appointed liquidators yesterday morning, Andrew Brady of Markhams Christchurch said.
“There’s been a significant drop in sales in the last two or three years, which I would put down to increased competition in that part of town,” Mr Brady said.
“Also the added effect of the recession hasn’t helped the turnover volume.”
When Borders opened further along Lambton Quay in early 2007, it had a “very noticeable” impact on Dymocks’ revenue, Mr Brady said.
Liquidators had already decided that the company could not continue to trade and had closed the shop indefinitely.
The stock and all assets would be sold, and proceeds returned to creditors. More.