Post-Brexit currency fluctuation threatening UK indie presses
In the UK, a number of independent publishers have reported feeling ‘extremely vulnerable’ about the uncertainty caused by Brexit, reports the Bookseller. The drop in the value of the pound post-referendum of about 10% is causing publishers to lose money in foreign exchange. Europa Editions UK director Daniela Petracco tells the Bookseller its margins are being ‘slashed’ and that it may have to increase its book prices. Jared Shurin of Jurrasic London said its costs have gone up 50% while its income remains the same. ‘My next book just went from “under budget” to “a guaranteed loss”. Either I increase my prices 50% and not sell any … or take the hit and stagger on,’ said Shurin. Despite the difficulties caused by price fluctuations, a number publishers have noted a ‘silver lining’, with publishers such as Pushkin, Deadlus, Influx and Other Stories taking part in campaigns to showcase European literature.
Category: International news