Franchisee-owned Collins Booksellers has bought 20 stores from the REDgroup collapse, and is in discussions with other former Angus & Robertson franchisees who are now trading as independents.
In a sign of confidence in the future of booksellers, Collins also expects to open four brand-new stores by the year’s end.
Daniel Jordon, Collins Booksellers chief executive officer, says the 20 A&R stores – 18 franchisees and two ex-company stores – gives it 72 stores nationwide.
Jordon says the new stores, which are expected to start trading as Collins over the next month to six weeks, represent an “even spread across the country”, particularly regional New South Wales, South-East Queensland and Western Australia.
A price has not been disclosed for the assets.
Questioned if the acquisitions are a vote of confidence in the sector, Jordon replied: “Very much so.”
“We are mindful of challenges in the current retail climate and within bookselling, but we’re positive and buoyant in our outlook.”
Like rival Dymocks, Collins has grown its market share this year since the collapse A&R and Borders owner REDgroup Retail in February, but Jordon says it’s too early to say what percentage of the market it has now. It had 5% some months ago.
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