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Economy "toughest for decades" says Bloomsbury
The consumer economy is the toughest it has been for decades, said Bloomsbury, with curtailed orders in retailers like Waterstone's

In its interim management statement for the period from 1st March to date, Bloomsbury said the change in ownership in Waterstone's was a symptom of "challenging time" for consumer books on the high street. It said: "Waterstones has strictly rationed orders during recent months. In the US, the Borders bankruptcy and subsequent sale looms over the industry and in Australia it is a similar story with the REDgroup, which owns Angus & Robertson. These factors mean that trade revenues, although boosted by growing e-book sales in the UK and US, remain soft."

The Bookseller