THE outgoing chairman of Oxford multi-million pound book business Blackwell's has vowed that the family firm will stay a private company.
Julian Blackwell, 70, who last week announced his retirement, said: "We have had several thoughts about floating on the London Stock Exchange, all of them negative."
He added: "My grandfather put our name above the door 120 years ago and my family are determined to keep it there." Blackwell's is now the UK's leading academic and professional bookselling chain. It now employs 500 staff at its Beaver House headquarters in Hythe Bridge Street, Oxford. Another 250 work at its Oxford bookshops.
In total it employs 3,000 worldwide and achieves an annual turnover of £450m. It owns 78 bookshops in Britain.
Mr Blackwell said that the climate in the book trade at present meant that many large companies were merging.
He said: "We may enter into some joint ventures in the future. That is the way forward rather than floating."
Blackwell's is now negotiating to buy booksellers Heffers of Cambridge.
Blackwell's was founded in 1879 in Broad Street. Julian Blackwell's father, Sir Basil, was born in the family home above the shop.
Story date: Tuesday 23 February
Converted for the new archive on 30 June 2000. Some images and formatting may have been lost in the conversion.
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