American library management firm LSSI has retreated from its target of managing 15% of UK public libraries in the next five years, according to a report in today's Independent.
The Maryland-based firm, which runs over 70 libraries in the US, entered the UK market earlier this year. However chief executive Brad King said: "It has not been easy and we're still waiting to see if the UK is ready yet for the idea of library privatisation." The company is currently revising its targets for next year, and will not set definitive figures.
The news follows hard on the heels of the announcement that the Culture, Media and Sport select committee will hold an inquiry into library closures early in 2012.