21/12/2009: The official press release is now out and no further updates to this page will be posted. Comments remain open.

From Wesley Owen Edinburgh’s facebook page, posted on Friday 18/12/2009 at 21.14:

We are now in administration and will be closing shortly. As will almost all of the Wesley Owen shops. I thank you all so much for your support and can I ask you to pray for all of the staff that received the devastating news today at 5.35.

As for STL’s other divisions, sources elsewhere (contacts on facebook and twitter, who have since removed their status updates) indicate that Koorong and Kingsway (David C Cook) have taken on Authentic, with Koorong taking over the books publishing, Kingsway taking over the music. Koorong may have also taken on some of the Wesley Owen stores [2]. There is as yet no reliable information about STL Distribution [1], but I’m told that an official press release will be issued on Monday 21st December.

This is surely one of the saddest days in the history of Christian bookselling/retailing here in the UK. As per the request from Edinburgh, please pray for all the staff caught up in this mess.

[1] Update, 4.15pm: From Everything ChristianBig changes at Christian book supplier:

STL Distribution has been purchased by Scottish book wholesaler John Ritchie. However, it isn’t clear how much of the business they will retain, or which employees will be transferred.

[2] Update, 20/12/2009, 3.15pm: The situation with the shops is reported to be:

  • 26 shops told at 5.35pm yesterday that they were in administration
  • 6 shops taken over by CLC (Bolton, Stockport, Cambridge, Kingston, Guildford and Coventry)
  • 8 shops taken over by Koorong (Bath, Birmingham, Bristol, Bromley, Coleraine, Derby, Glasgow, York, possibly another, along with the website and the Wesley Owen brand)

Reports Roundup (most recent first)

For earlier reports, see my STL UK Crisis: Reports roundup and further reflections (updated) (last updated 12/12/2009).

IBS-STL UK Trade Announcement 15/09/09

IBS-STL UK Trade Announcement 15/09/09

In a new trade missive released this afternoon, Tuesday 15th September, Keith Danby has sought to further clarify IBS-STL UK’s trading position, reassuring trade partners that “there is a sustainable business ministry model going forward”, reiterating the company’s ongoing commitment to the UK trade and thanking those who have supported the company through prayer:

On the 14th August I made a statement about the current trading position of IBS-STL UK. This was in response to concerns within the trade and rumours circulating regarding our solvency. At that time I informed you that we were neither going into liquidation nor administration and that we were in discussions with our bank, suppliers and external auditors to seek out ways in which we could work together to help improve our current cash flow problems and secure our future.

A team of external Accountants have since conducted a business review of the UK charity, and I am pleased to advise you that they have filed a report highlighting that although IBS-STL has been experiencing some severe cash flow difficulties during the summer months there is a sustainable business ministry model going forward.

We still face significant challenges in this current financial year and are continuing to work hard with our professional advisors, bankers and suppliers to resolve our cash flow challenges and return to normal trading conditions as soon as possible.

IBS-STL UK Trade Announcement 14/08/2009Keith Danby, Global CEO of IBS-STL/Biblica has spoken out in a Trade Announcement issued this afternoon to quell rumours that IBS-STL UK may be “going into ‘liquidation’ or ‘administration’”, reassuring the trade that “there is no immediate crisis within the Charity” and reaffirming his own personal “commitment to support the UK Christian trade both in the retail and supply sectors.”

There have been a number of rumours circulating suggesting that IBS-STL U.K. is going into ‘liquidation’ or ‘administration’. I can confirm that the charity is neither in liquidation, nor in any form of administration.

A number of factors including the SAP implementation have caused STL Distribution serious Supply Chain difficulties, which have resulted in severe cash flow problems.

I met with a number of our key suppliers earlier this week in London to appraise them of the situation…

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