Administrators of University Co-operative Bookshop Limited (University Co-op) have announced that following a lack of viable offers received to purchase the Curious Planet stores from the business, the administrators have commenced the closure of the 63 retail stores across Australia.
Staff have been informed of the closures which are set to take place over the next six to eight weeks.
University Co-op Administrator, Andrew Scott of PwC, said that while the stores will begin closing the administrators are still open to offers.
"A number of discussions have been held and are still ongoing with interested parties, however, no acceptable offer to purchase some or all the Curious Planet store network has been forthcoming.
"While we remain open to offers from potential purchasers, we have no option at this time but to commence the orderly closure of the stores.
"We have continued to trade the Curious Planet stores during the Christmas shopping season and intend to keep the stores open in the immediate term to ensure that consumers have the opportunity to purchase discounted items that are currently on sale.
"The planned closures of the Curious Planet stores do not impact the sale process for the Coop Bookshop business which is at an advanced stage," he said.
All employee entitlements are expected to be met.