Bookwitty Files for Bankruptcy in France
Keeward, the parent company of Bookwitty, the international online bookstore, has filed for bankruptcy protection in France. "The court hearing date has been set for August 9," the group's CEO, Cyril Hadji-Thomas, wrote in an email sent to shareholders. The company, which had offices in France, Lebanon, Canada, and Ireland, used $24 million in investments to rapidly expand operations and intended the take on Amazon. Unconfirmed reports from creditors suggest that the company had contracts with more than thirty publishers. Contracts to pay severance to former employees have also gone unpaid.