The family running Blackwell’s, the UK’s largest independent bookseller, is reported to have put the business up for sale. A deal would take Blackwell’s, which operates 18 shops and a website, out of family control for the first time in its 143-year history.

According to the Guardian, the chain said it was looking for an external investor after a plan to put the business into employee ownership fell through. It said that goal ​“ultimately proved to be difficult, due in large part to the ongoing uncertainty on the high street caused by Covid-19”.…

Julian Blackwell, the group’s owner and president, told the Guardian: ​“I would have loved to have handed over the company to its staff, but I also accept that in order to grow and remain competitive in the future, it is time for new ownership, ideas and investment.…

Potential buyers could include Waterstones, which is owned by the aggressive New York hedge fund Elliott Advisors.…