Posted AT 4:01 AM EDT on 09/01/08
Raincoast pullback a warning sign
The announcement on Monday that Vancouver-based Raincoast Books is suspending its domestic publishing program, shuttering its Ontario warehouse and laying off 20 employees this year is a harbinger of tough times ahead for the Canadian trade-book industry, according to veteran industry observers.
"We're definitely in a deflationary spiral," said Brad Martin , president and chief executive officer of the country's largest trade publisher, Random House Canada.
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