- From: AAP
- July 26, 2013
Local finance, administration and IT functions will be relocated to Australia and publishing will cease in New Zealand after the completion of its 2013 programme.
The New Zealand publishing business has shrunk largely because of "the increased sourcing of books from overseas, at the expenses of the local trade, and the rapid growth of e-books," Mr Edwards said.
NZ managing director Kevin Chapman (left), editorial director Warren Adler and financial controller Rick Groufsky will leave the company, the remains of which will be run by sales and marketing director Mel Winder, reporting to Hatchette Australia CEO Matt Richell, effective immediately.
The book trade has been one of the big casualties of online shopping and e-readers and the trend away from hard copy. In early 2011, the Whitcoulls and Borders chains were placed in voluntary administration.
Separately on Friday, writer Paul Little announced he was becoming a publisher, using a scaled-down, low-overhead business model.
Paul Little Books' titles are to include a biography of Kim Dotcom.
Read more: http://www.news.com.au/business/breaking-news/book-publisher-hachette-closes-down-in-nz/story-e6frfkur-1226686309264#ixzz2aJUIR7nr
And story in New Zealand Herald:
Closure sends classic NZ book titles overseas