Written by Staff
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Sunday, 20 December 2009 11:00 PM America/New_York |
IBS-STL UK has announced new ownership for its troubled retail, distribution and publishing divisions.
Eight of the stores in the Wesley Owen chain—the largest in the country—have been bought by Australian retail group, Koorong, with another six taken on by CLC International (UK). Some of the remaining 26 stores may continue under ownership by local groups.
STL Distribution, the main supply hub for Christian retail in the U.K., has been purchased by John Ritchie Ltd., a subsidiary of The Lord's Work Trust based in Kilmarnock, Scotland. The operation will continue under the STL Distribution name.
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