Time for Publishers to get into Retailing?
June 15, 2016 § Leave a comment
There has been a lot of good news in the bricks and mortar book retailing world lately. Numbers that just came out this morning show that April, 2016 was up almost 10% over April, 2015. It is great to see this resurgence!
But, also this week, we got the news about Hastings filing for Chapter 11. That news will certainly hit the retail numbers in months to come as Hastings winds down its operations. But, the real underbelly of this story is all the unsecured creditors (mainly publishers) who will most likely will need to write off a crippling amount of accounts receivable.
Is this an opportunity?
Is it possible that a consortia of unsecured creditors get together and propose that they take over Hastings operations?
Publishers have long been looking for other channels, and ways to feel closer to their customers. If the publishers that will be affected by the demise of Hastings got together and collectively double-downed on an experiment, it could be very enlightening, and could act as a catalyst for some of the profound changes that are still necessary for book publishing in the future.
Just a thought.