Bonnier Books UK has finally gotten to the bottom of their disastrous years of believing that overspending to buy growth would work — which ended in big layoffs, the abrupt dismissal of the executive that led the spree, and recapitalization from the parent company of £51 million. It now turns out the whole thing was the accountants’ fault, and the publisher is suing its former accountants for £90 million, alleging the firm was negligent in auditing its financial statements. The publisher admits in their lawsuit, filed against Haysmacintyre LLP in London’s High Court January 21, that their growth strategy was […]
