Premier Direct on the blocks

Administrators were called in earlier this month at
shopping-at-work firm Premier Direct and its subsidiary, Premier
Books (UK). The board of Premier Direct said in a statement that
it had “explored all financial and strategic options
available” before appointing Simon Wilson and Scott Gaillie
of Kroll as joint administrators.

The gifts and books retailer has “faced cash-flow
difficulties due to challenging trading conditions over a
sustained period,” said a Kroll statement. Premier Direct
had hired a commercial director in March to drive sustainable
growth, but in May its shares were suspended from trading on AIM.

Wilson confirmed the loss of 101 jobs; the remaining 20 employees
were being kept informed of “all notable
developments,” he said. “Having fully explored
options for the sale of the business, the situation is now one of
realising its assets.”


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