ACQNET v3n075 (September 19, 1993) URL = http://hegel.lib.ncsu.edu/serials/stacks/acqnet/acqnet-v3n075 ISSN: 1057-5308 *************** ACQNET, Vol. 3, No. 75, September 19, 1993 ========================================== (1) FROM: Katina Strauch SUBJECT: _Against the Grain_ interview with Harry Moore, Collets (127 lines) (2) FROM: Denise Novak SUBJECT: Scandinavian booksellers (8 lines) (3) FROM: Denise Novak SUBJECT: Size of acquisitions departments (13 lines) (4) FROM: Meg Robinson SUBJECT: Binders (11 lines) (1)------------------------------------------------------------------------ From: Katina Strauch (College of Charleston) Subject: _Against the Grain_ Interview with Harry Moore, Collets Date: Fri, 17 Sep 1993 09:28:42 -0400 The following interview with Harry Moore, Managing Director of Collets will be published in the September 1993 issue of _Against the Grain_. The issue will be mailed to subscribers on Thursday, September 23, Katina Strauch, Editor ______________ Several of us have heard of the financial difficulties of Collets. We called Harry Moore in England to talk to him about some of these problems. He was incredibly charming and very forthcoming about the company's problems. Here is what he said , . . ______________ Q: Would you tell us what is going on with Collets? A: There are three levels of financial difficulty in England (somewhat like Chapter 11 in the U.S.) -- liquidation, receivership, and administration. Collets is in the "administration" or first stage. We want to recover the company. We will resolve our problems by injecting cash into the business. The company has been placed in administration to protect it from creditors and to reduce staff cost. I have a history of going into companies which are in financial difficulty and helping them come out of it. I have injected some of my own cash into the company. Seventy percent of the business has been sold as equity shares to Philip Wilson Publishers Ltd. of London and thirty percent of the company has been bought by me. We are going forward. We are looking toward a successful future. Q: What sort of "time line" are you working on? A: We met with our creditors on Wednesday, September 1, and they agreed with our proposals. This is very good news. The plan for financial recovery will be completed by the end of September. The United States is a large and good market. We will come out of this and we very much want to continue to do business in the U.S. Currently we are operating normally. Most of our customers are staying with us. We sell books in to and out of the United States. Q: We have noticed that your bookshops are closed down. What is going on with the bookshop business? A: We have closed all of our bookshops. We are only keeping one shop open, in London, more for sentimental reasons than any other reason. Bookshops were less than 10% of our profit. We will continue to operate bookshops in Eastern Europe -- in Budapest and Prague, and Moscow especially. Our main effort will be distribution. We sell Russian and European books as well as English language books to Eastern Europe. With the EC, the British Council is obliged to consider American and British books and to promote books in English both in and out of the United States. At some point we would like to open a Russian Book Center in the U.S.A. Q: Have you closed down your U.S. office? A: No. It is currently not staffed and we are very interested in finding someone to act as our American representative. We wish to pursue selling in the U.S. aggressively. We want publishers to think of Collets as a friend not an enemy. We are interested in the distribution of materials in and out of the United States and throughout the world. We are recruiting for a person in this position in the U.S. Q: How did Collets come to be in financial difficulty? A: Collets was founded in 1933 by Eva Collet Reckitt and Olive Parsons (who is now 101!). It was known for selling "radical" books and for selling books that others did not sell. It has a fascinating history. It was not profit oriented. It was for the selling of niche market books and did not have a policy of retaining profits or returning them to the company for reserve. The company lost two million pounds of annual book sales to Russia due to the political and economic collapse of the Soviet Union. Two shops were blown up in the Salman Rushdie _Satanic Verses_ problem causing further losses. The Board of Collets has changed completely and has changed its policy. Profit is very important. Q: We understand that Collets had a Book Fair in Moscow in June? A: Yes. It is called the Collets Book Fair. We took 3500 titles and sold 2000 in two weeks. We did very well. There was only a 25% discount off the retail price. We sold largely English language books -- American and British English. The BBC books sold very well. We largely sold in rubles to be converted to US dollars, the major foreign currency. We sold some in pounds as well. The dollar is the first currency and the DM is the second currency. Currently there are 1000 rubles to the dollar. It's pretty easy to be a millionaire in rubles. Q: We hear so much about how it is impossible to convert rubles to dollars. A: We have bank accounts in several currencies and it is now possible to convert rubles to U.S. dollars. Q: What kinds of books do the Russian people buy? A: Largely the English language books (British) are used by academics and the American language books are used in business. The Russians are buying business and technical materials and a lot of language books. For popular reading, they like detective books, especially Dick Tracy and Agatha Christie. Libraries are very short of books. They have no money for them. We are working with the Lenin Library to help them acquire some books as well. Q: Are you a lawyer? A: No. I am an engineer by qualification. I have managed several companies in Europe and in England. I was also a management consultant with KPMG Peat Marwick and specialize in work with companies with problems. I was called in to help Collets about 12 months ago and fell in love with the company and the people. After all, business is business regardless of the company. Q: Do you travel to these countries each year? A: Yes. I travel an average of ten to twelve days per month throughout Eastern Europe and in the next few months I am going to Russia, Rumania, and Slovakia. Q: Do you plan to come to the U.S.? A: Yes. I am planning to come to find new outlets for books, recruit a U.S. representative, and to attend the Charleston Conference in November. Q: Have you been to the States before? A: No and I am really looking forward to it. I am very excited about meeting the people and seeing the country. (2)------------------------------------------------------------------------ From: Denise D. Novak (Carnegie Mellon University) Subject: Scandinavian vendors Date: Fri, 17 Sep 1993 16:07:34 -0400 I have received a large number of book requests for titles published in Finland and Norway. Does anyone deal with a Scandinavian jobber who is good and fast? (3)------------------------------------------------------------------------ From: Denise D. Novak (Carnegie Mellon University) Subject: Size of acquisitions departments Date: Fri, 17 Sep 1993 16:17:12 -0400 I am curious to know the size of other acquisitions departments similar to that of Carnegie Mellon University. I am responsible for a materials budget of about 1.87 million dollars and I supervise a staff of 7.5 paraprofessionals. I have 2.5 staff who order all the materials for the libraries. My part-time position has been frozen and it is possible that it may be eliminated. I am trying to gather information so that I can justify why I need to keep that position. Any information would be greatly appreciated. (4)------------------------------------------------------------------------ From: Meg Robinson (UNC - Charlotte) Subject: Binders Date: Thu, 16 Sep 1993 09:47:13 -0400 We're having some contract fluctuations, and I'm interested in hearing anyone's opinions on the quality and consistency of the work of Southeastern or American binders. (We currently use Heckman, and may be forced to change). Also, I'd like to know if anyone comparable to us in size ($40,000 per year or more binding budget) has made a transition lately to either of those binders. ****** END OF FILE ****** ACQNET, Vol. 3, No. 75 ****** END OF FILE ******