Quarto emerges from boardroom putsch with renewed focus on the finances

Quarto emerges from boardroom putsch with renewed focus on the finances

The international publishing group Quarto was placed in “intensive care” by its banks over its levels of debt in the run-up to the dramatic annual general meeting in May 2018, that saw founder Laurence Orbach briefly return as executive chairman of the business he exited in 2012.

Behind the boardroom putsch was a battle for the strategic direction of the business. Quarto had grown sales consistently since its founding 40 years ago, reaching a high point of $182m in 2015 after floating in 1986. But its expansion had come at a cost, with its accumulated net debt hitting $81m in 2012.

Andy C...

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