Brazilian book trade facing "dark days for books."

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Brazilian book trade facing "dark days for books."

Dec 12 2018

An ongoing crisis in the Brazilian publishing market "that combined steady declines in the price of books with rising inflation" is raising concerns about the future of the book trade in the country, the Guardian reported. Book chain Saraiva, which had announced the closure of 20 stores in October, said late last month that it was filing for bankruptcy protection. Rival chain Cultura has also filed a reorganization plan to avoid bankruptcy. Brazil is in the midst of its worst recession in decades, and the recent election of far-right populist Jair Bolsonaro as the country's next president is "sending ripples of fear through the country's cultural community."

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