Independent publishing house Quercus has announced that it is for sale. The London based company has made a formal announcement to this effect, and has instructed its financial experts, Livingstone Partners LLP to conduct the sale.
The publishing house is responsible for a number of critically acclaimed genre novels, including Tom Pollock’s The Glass Republic, Sarah Pinborough’s The Language of Dying and Lisa Tuttle’s The Silver Bough, and is seen by many in the industry as progressive and highly innovative, with a list of titles that reflect this approach. The company also owns the rights to publish the English language version of Stieg Larsson’s Millennium series
Earlier this month, Quercus had announced that profits were “lower than expected", having suffered from "continuing issues within the book trade which led retailers to adopt very conservative ordering policies". In addition, e-book sales did not pick-up as quickly as expected following the Christmas period and this slow growth has contributed to the firm's current difficulties.
The company hopes to join forces with a larger firm whilst still retaining its cutting edge credentials and independent spirit. CEO Mark Smith has stated that he wants Quercus to “flourish” under a larger company but that otherwise it is “business as usual."
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