Christian publisher Lion Hudson has gone into administration, it has been confirmed.
It comes after Christian Today revealed three weeks ago that the award-winning company was filing for administration and two-thirds of the staff had been made redundant.
Their hired business consultancy firm FRP Advisory announced the Christian publishing house was seeking new investment as part of restructuring plans that 'may include a sale of all the parts of the business'.
The FRP spokesperson said: "The company is now in administration. The administrators are working with management and continue to trade the business as normal. All the staff that were with Lion Hudson when it went into administration continue to work for the company. The business continues to liaise with suppliers, authors, booksellers and other parties while the administrators market the business for sale, as part of the plans for seeking new investment."
He added according to the Bookseller: "Arrangements have been put in place as part of the restructuring to ensure all the authors and publishing arrangements are safeguarded in the best interests of all concerned."
Interested parties are invited to contact FRP at its London office. "As the publishing world knows this is a unique business with a long history of loyal authors and publishers within the Christian publishing and related special interests market," FRP's spokesperson said.
Christian Today revealed in early February the company had dismissed 35 staff after failing to recover from financial pressures.
Managing director Suzanne Wilson-Huggins described the move as a 'deep and painful restructure'.
She said at the time: 'To reiterate, we believe there is a way forward for the business and our financial advisors are being very supportive throughout this process.
'We would very much value your continued prayer support at this time as we adjust to new ways of working.'
