The Capital Organisation, an investment group, has purchased the defunct Borders UK’s online operation and a database of over a million customers for an undisclosed price, the Bookseller reports. Operating under the less tarnished Books etc brand (a part of Borders UK), the buyer “is thought to be planning to merge the website with two other retail sites it already owns – goodmusic.co.uk and sellstudentstuff.com.”
Finance
Acquisitions: Bowker Licenses Books In Print Books, Plus New Homes for Birkauser and Darby Creek
Bowker has licensed the rights to publish the print editions of the entire Books in Print line, comprising 15 different titles, to Grey House, effective the beginning of this year. Grey House will maintain the traditional publishing schedule for the line, starting with Books Out Loud: Bowker’s Guide to Audio Books. Bowker will continue to handle online subscriptions to the Books In Print database, and they will continue to compile and maintain all of the relevant data. ACTAR Publishing agreed to acquire the architecture and design titles of Birkhäuser Verlag from Springer Science+Business Meda. Barcelona and New York-based ACTAR publishes […]
Bookselling: Bankruptcy for Canada's McNally Robinson; Eso Won Expects Another Tough Year; Northshire Hails Haslett Novel
Much-admired Canadian indie McNally Robinson Booksellers has entered bankruptcy and will close two of its four stores immediately: one in Polo Park in Winnipeg and their Toronto store in the new Shops at Don Mills mall. 170 of the bookseller’s 425 full- and part-time employees will lose their jobs as result. Co-owner Paul McNally says that as long as the company’s bankruptcy plan is approved the other two stories, in Winnipeg and Saskatoon, will remain open. “They make money,” he said. “They have a loyal following,” while the other two “new stores absolutely did not perform.” The Winnipeg Free Press […]
Another Investment Firm Builds Barnes & Noble Stake
California money manager Altheia Research & Management, run by Peter Eicher, filed with the SEC now that it has amassed at 10.8 percent stake in Barnes & Noble. Altheia says it has “no plans or proposals” other than investment purposes, but qualifies that by noting the firm “reserves the right to act in concert with any other shareholders of the Issuer, or other persons, for a common purpose should it determine to do so, and/or to recommend courses of action to management and the shareholders of the Issuer.” Nearly all of their block of stock was acquired beginning on November […]
Random Says Profitability Rises
Random House ceo Markus Dohle’s year-end letter to employees acknowledges that the “year has been one difficult external and internal challenge after another,” including “the continuing decline in consumer spending, including on books; the pressures of the retail price wars in the U.S. and U.K.; wide-ranging digital-publishing issues; and our divisional reorganizations and integrations.” And “the outlook for 2010 is uncertain right now…with no sign that consumer confidence or discretionary spending will pick up.” The “great news” he shares is that “even with these challenges, Random House on a worldwide basis will improve its year-on-year profitability in 2009.” One could […]
Bookselling: Up Close at Square Books; It's Over at Borders UK
Poets & Writers starts the new year with a new series of interviews with bookselling entrepreneurs, Inside Indie Bookstores. The first installment visits with Richard Howorth of Square Books: “It’s a very difficult business. But in many ways, I like the fact that it’s a difficult business. Otherwise, people who want to make money–by selling crap–would be trying to get into the book business. [Laughter.]” Looking to the digital reckoning, he says: “I think bookstores offer an experience to book consumers that is unique. To be able to go into a place physically, to experience a sensation that is the […]