Changes to the UK’s budget mean that many independent bookstores will have to pay a significantly higher business rate (a property tax) starting in April, the Bookseller reports. According to new research that has been submitted to the government as part of a consultation, more than 400 independent bookshops will see their rates go up over the next three years after a transitional period, and some stores’ taxes will be doubled. Researchers found that a store would have to sell at least 1,141 more books per year, on average, to make up for the increase. According to the Bookseller, “In […]
International News
Editis Owner Bids to Take Over France’s Biggest Bookseller
Czech investment firm EP Group, which owns a 28.5 stake in Fnac Darty, France’s biggest bookselling chain, has made an offer to fully take over the company. EP Group is owned by Daniel Kretinsky, who also owns French publisher Editis. Fnac Darty is valued at more than €1.1 billion. EP made a cash offer for Fnac at a price of €36 per share, about 25 percent more than the the retailer’s recent average share price. Fnac’s board of directors “unanimously welcomed the offer” the announced in a release, and the retailer’s stock climbed 18 percent at the news, Reuters reports. […]
Employee Dies in Hachette UK Warehouse Accident
A Hachette UK distribution center is closed after an accident that resulted in the death of a 23-year-old employee, the Bookseller reports. According to police, there was an “industrial accident” at the Oxfordshire warehouse on Tuesday morning. A 21-year-old man was arrested “on suspicion of gross negligence manslaughter” and is now out on bail. “[On Tuesday], there was a tragic incident at Hachette UK Distribution’s warehouse that heartbreakingly led to the loss of a much-loved colleague,” a Hachette UK spokesperson said. “Our deepest condolences are with their family and friends, who are in our thoughts at this devastating time. The […]
Severn House to be Sold to Joffe Books
Severn House is being sold to Joffe Books by current owner Canongate Books. The sale is expected to be completed early next year. Canongate acquired Severn House in 2017. Joffe Books and Canongate have co-publishing ebooks together for the past five years. Canongate ceo Jamie Byng said: “Our close partnership with Joffe Books has enabled us to see first hand how successfully they publish. So when Jasper asked whether we would be interested in selling Severn House, it felt like something we should explore. “That Joffe is a like-minded independent publisher, one who cares as passionately about its authors and […]
Books May Be Excluded from EU Deforestation Regulations
The European Parliament has voted to remove books and other printed materials from the EU Deforestation Regulations (EUDR), which would have forced publishers and distributors to show that products had not been produced on deforested land. The measure now must be agreed to by the EU Parliament, Council and Commission next month. The regulations would have particular impact on British and Irish publishers, as well as US publishers exporting into Europe. Additionally, the Booksellers Association called it an “existential threat” for Irish booksellers who sell books from British, US, and other publishers around the world. “This common sense support by the […]
Sarah Ferguson, Former Duchess of York, Children’s Book Pulled
Sarah Ferguson’s forthcoming children’s book, Flora and Fern: Kindness Along the Way, has been withdrawn from publication. The picture book was first slated to come out from UK publisher New Frontier Publishing on October 9, then was rescheduled to November 20, the BBC reports. The book does not appear to have had a US publisher. No reason was given from the publisher or author for the withdrawal. Ferguson was previously married to Andrew Mountbatten-Windsor, who recently lost his title as Prince Andrew, Duke of York, due to his ties to Jeffrey Epstein. Ferguson was also dropped from various philanthropic endeavors after […]