Online Bookselling Giant Flounders, Shares Plummet to Less Than 6 Cents

The Australian company, initially a success story, has been forced to arrange $1 million in emergency financing as it struggles to stay afloat.
Online Bookselling Giant Flounders, Shares Plummet to Less Than 6 Cents
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Rex Widerstrom
Updated:
0:00

Australian bookseller and publisher Booktopia Group Ltd—a fast-growing success story since its launch in 2004—appears to be in significant financial strife.

It has been forced to arrange $1 million in emergency funding and has withdrawn its earnings forecasts.

Rex Widerstrom
Rex Widerstrom
Author
Rex Widerstrom is a New Zealand-based reporter with over 40 years of experience in media, including radio and print. He is currently a presenter for Hutt Radio.
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