UK publisher insolvencies on the rise
UK publisher insolvencies have risen 58% over the past year, according to research from accountancy firm Moore Stephens reported in the Independent. In the 2014-15 financial year, 128 UK publishers went out of business, up from 81 publishers in the previous year. The accountancy firm has suggested some smaller publishers may have been too slow to adapt to the rise in ebooks. ‘The fall in the value of sales for physical books is larger than the growth of e-books, and this is a worrying trend for publishers that are still dependent on paper for their profits,’ said Moore Stephens restructuring and insolvency partner David Elliott.
Category: International news