News roundup—18th June 2009

News roundup—18th June 2009

The Book People and Scholastic are ending their
partnership in the Red House children’s books club and
the schools-based School Link book club, reports
The Bookseller. The Book People will now
own and operate Red House, while Scholastic will incorporate
School Link into its UK book-club business.

Creditors of Discover Leisure, a direct seller of
camping and caravan gear, have approved a Company Voluntary
Agreement (CVA) that, according to a statement from adviser KPMG,
“allows the business to remain a going concern, to keep
trading, and to continue the restructuring it began sometime
ago, offering job security to 300 employees and some certainty to
its other stakeholders”.

Despite protests from retailers, the government is going
ahead with plans to raise VAT back to 17.5 per cent on New Year’s
Day. According to The Times, “Retailers have said that
the timing of the tax rise will cause huge disruption and have
urged Mr Darling to delay it by a month”.

Arcandor will file for insolvency for another 15 of its
divisions, reports the Wall Street Journal, but its
Primondo speciality catalogue unit and Thomas Cook
travel division remain unaffected.


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