Thu, 23 Jan 2014 | BUSINESS SALE
Quercus, the publisher behind the popular Stieg Larsson 'Girl with the Dragon Tattoo' series, has put itself up for sale.
The independent publisher was founded ten years ago, but has been troubled in recent times. The firm said that it is expecting “a significant trading loss” for 2013 in what it has described as a “challenging” and “increasingly competitive" book market in the UK.
A lower than expected upturn in digital sales over the festive season was deemed partly to blame for the predicted losses, alongside a cautious attitude among retailers who are adopting “very conservative ordering policies”.
Quercus' chief executive Mark Smith spoke to the Guardian about the sale, stating that the firm will continue to trade as normal while they seek a buyer. He explained the reasoning behind the sale: “We feel that with the resources a larger partner would bring to Quercus, we would be able to compete more effectively in an increasingly competitive market here in the UK.”
The publisher announced in December that it had acquired the rights for the fourth book in the Millennium series in English from the Stieg Larsson estate. However, the new writer, David Lagercrantz, who is working from Larsson's notes, won't have the book ready for publishing until 2015, leaving Quercus to struggle on for a year.
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