Craigs Investment Partners broker Chris Timms said yesterday that while it was good news no New Zealand bookstores would be closed by the administrators of REDgroup Retail, it was important the stores continued to be run as though they had a future.
"Whitcoulls have a great position in our market but we don't want to get into a situation where there is not enough stock on the shelf and the stores look as though they are going through their death throes.
"If customers see that, they will move off to the next place."
It was also reassuring that the administrators were making no staff redundant in New Zealand, he said.
REDgroup Retail Ltd, which operates the Angus and Robertson chain and Borders in Australia and Whitcoulls book stores in New Zealand, was put into the hands of Ferrier Hodgson on February 17.
The New Zealand stores will continue trading.
The action came a day after United States giant Borders filed for bankruptcy protection in the US, although the two events are not linked in any way.
Ferrier Hodgson also said it would close 37 Angus and Robertson stores and one Borders' outlet in Australia in three weeks.
Of the 321 Angus and Robertson staff made redundant on Thursday, 102 were permanent full-time or part-time employees.
The remaining 219 were casual staff.
