This happened today.
I have a lot of time for The Works. They sell books to under-catered for consumers in unpretentious, accessible settings.
It's not *just* this that makes it an interesting deal though...
thebookseller.com/news/works-flo…
I have a lot of time for The Works. They sell books to under-catered for consumers in unpretentious, accessible settings.
It's not *just* this that makes it an interesting deal though...
thebookseller.com/news/works-flo…
The Works used to be owned by a private equity house.
Earlier this year, Waterstones was bought by a... private equity house.
Earlier this year, Waterstones was bought by a... private equity house.
This paragraph is a strong signal of what Waterstones' new owners will want to do with the company
🐷 Fatten it up
✂️ Cut costs
📈 Float it on the stockmarket
👖 The cash
🐷 Fatten it up
✂️ Cut costs
📈 Float it on the stockmarket
👖 The cash
The Works doing well is a sign that in the UK the best way to grow a retail business is to be cheap.
(And will lead to a v interesting clash with publishers, whose fortunes depend on keeping book prices stable.)
independent.co.uk/news/business/…
(And will lead to a v interesting clash with publishers, whose fortunes depend on keeping book prices stable.)
independent.co.uk/news/business/…
If retailers can only grow by being cheap...
But publishers can only survive by being (relatively) expensive...
Someone is going to have to fold first.
But publishers can only survive by being (relatively) expensive...
Someone is going to have to fold first.
