The international credit crisis is threatening the UK book supply chain after Woolworth’s–which owns both trade and library wholesaler Bertram’s and Entertainment UK, which supplies books to the big supermarket segment–had its credit insurance pulled following a loss of 100 million pounds in the most recent six months. (The entertainment wholesale and publishing unit earned 2.2 million pounds on flat sales of 446 million pounds in the period.) As the Independent explained last month, “trade credit insurance covers businesses against the risk of bad debt due to the insolvency or protracted default of their buyers. Earlier in the summer credit […]
