Australian media abounds with speculation on what brought down the REDgroup bookselling empire–which has debts of over $130 million (AU). The company was previously thought to comprise over a quarter of Australia’s $1.5 billion book business. (A Smart Company story in late 2009 said that annual sales for the privately-owned chain had risen to $685 million.) From the trade come a variety of answers: “REDgroup chairman Steven Cain blamed competition from foreign retailers like Amazon, who avoid charging Australian GST and duty taxes,” in one report. CEO of the largest competitor standing Dymocks, Don Grover tells the SMH, “The real […]
Archives for February 2011
Court Approves Borders’ Store Closure Plan In Time for President’s Day Sales; BAMM Eyes Some Locations?
After a brief postponement from Wednesday, the bankruptcy court approved Borders’ store reduction program and the chain has finalized agreements with liquidators. Going-out-of-business sales will begin on Saturday, February 19, which allows Borders to take advantage of President’s Day Weekend, and the company expects the 200 previously identified stores to close by the end of April. Hilco Merchant Resources, SB Capital Group, Tiger Capital Group and Gordon Brothers Group won the bidding to handle the liquidation sales, striking a deal that Bloomberg reports would guarantee almost 86 percent of the cost value of merchandise at the stores. Merchandise that Borders […]
Zondervan CEO Girkins to Exit, New Non-Fiction Imprint at Orion; and More
Zondervan said that president and CEO, Maureen “Moe” Girkins, will leave her position as of March 11, 2011. Acting general manager of Zonderan’s The City, an integrated software platform for church communities Scott Macdonald will serve as interim president during the “transition period” as a search for a new CEO is conducted. Elizabeth Eulberg is leaving Little, Brown, where she has been director of global publicity for Stephanie Meyer, to write full-time. At Fordham University Press, Wil Cerbone has been promoted to editorial associate and assistant to the director, while Tom Lay is now assistant editor. Stephanie Swane has joined […]
Google One Pass Takes Direct Hit at Apple By Giving Publishers A Way To Control The Price of Digital Content
As publishers grow increasingly concerned about Apple’s recent restrictions on how digital content that is accessible through iOS apps can be sold, Google conveniently announced its own payment system, One Pass, in which “publishers can maintain direct relationships with their customers and give readers access to digital content across websites and mobile apps.” Readers who purchase content from a One Pass publisher through almost any device they choose can use a single sign-on with an email and password. For publishers, Google touts the ability to customize how and when they charge for content while experimenting with different models to see […]
Non-Bankruptcy Bookstore News
Four St. Louis bookstores–Left Bank Books, Pudd’nhead Books, Main Street Books and Subterranean Books (which has said it might have to close this year)–have formed the St. Louis Independent Bookstore Alliance. They have a Facebook page, a joint website in the works, and are planning a bookstore tour. And they expect to welcome other area stores to the alliance. Nikki Furrer of Pudd’nhead Books says “This is a chance for all of us to promote St. Louis and stores that people here have not heard of.” Pasadena’s Vroman’s is “very sad to see Borders go, but we’re also excited for […]
BlogWorld Pairs with BEA
BlogWorld & New Media Expo, which calls itself “the world’s largest social media conference,” will add a New York show to their schedule by co-locating with Book Expo America. BEA badge holders will have free access to the Blogworld exhibit floor, but will need to purchase conference tickets separately. And BlogWorld attendees–expected to number more than 1,500–will have access to BEA. The new show also anticipates having 100 sponsors/exhibitors and 200 speakers. Their primary conference day will be Tuesday, May 24 (the day BEA’s exhibit floor opens) with two days of exhibits on the May 25 and 26.