// Blackwell’s in discussions with potential bidders
// Corporate financiers from Begbies Traynor will oversee the sale process
The family behind Blackwell’s are reportedly in discussions with potential bidders after ditching plans to transfer ownership of the company to its staff.
The book retailer has put itself up for sale for the first time in its 143-year history.
Blackwell’s appointed corporate financiers from Begbies Traynor to oversee the sale process.
READ MORE: How high street book retailers continue to dominate ebooks
The retailer’s founding family opened its first store in Oxford in 1879.
Talks with potential buyers have been taking place for some time, and a deal is likely in the coming months, Sky News reported.
Blackwell’s trades from 18 stores – as well as online – including its flagship shop in Oxford, where the company is based.
The company also trades under the name Heffers at a store in Cambridge, as well as in London and Edinburgh.
The sale process comes amid a shake-up in the books retail sector, which has faced rapid disruption from online giants.
Blackwell’s chief executive, David Prescott said the sale represents “a genuinely unique and exciting opportunity” for any potential buyer.
Click here to sign up to Retail Gazette‘s free daily email newsletter
