After a long eight months of trying to sell their money-losing book printing business, Quad has finally sold just one of their plants to one of the most logical buyers. The assets of their 1 million square foot book printing facility in Versailles, KY have been sold to CJK Group, which will operate the plant…
Finance
Barnes & Noble Education Investor Nominates New Directors, While Hoping for An Outright Sale
Outerbridge Capital Management, with a 13.5 percent stake in Barnes & Noble Education that’s deeply underwater, said in an SEC filing it would nominate four alternate directors to the board of the company “to unlock its immense potential.” Outerbridge paid approximately $22.2 million to acquire their shares, now worth less than half that. They say…
UK Wholesaler Bertram’s Is In Bankruptcy Liquidation
As long expected and feared, UK wholesaler Bertram’s has gone into bankruptcy administration and is well down the road of liquidating. The “majority” of its 459 employees have been fired effectively immediately “with a small number retained to manage the winding down of operations.” Some sales of the parts are in already in process, including…
Activist Investor Cevian Capital Discloses Stake in Pearson
Pearson’s stock jumped 12 percent Friday on the news that Cevian Capital, one of Europe’s largest activist investors, had built a 5.4 percent stake in the company. The news was made public via a regulatory filing from the Swedish fund late yesterday. The fund bought the stake to influence Pearson’s choice of a new chief…
Briefs
Legal Agents Beth Phelan and Kelly Van Sant and author Isabel Sterling received cease & desist letters from an attorney representing agent Dawn Frederick at Red Sofa Literary after speaking out about Frederick’s response to protestors in St. Paul. On May 28, Frederick posted on Twitter that she had called the police about an incident…
Briefs
Acquisitions Welbeck Publishing Group bought the assets of mind, body and spirit publisher Eddison Books for an undisclosed sum from The Fisher Company. Welbeck will continue working with Eddison’s authors on 2020 titles and publish its 2021 list under Welbeck’s imprints. Welbeck executive director Marcus Leaver said, “Mark and I have admired from afar the…