Egmont Publishing, which put its U.S. division up for sale in October, has announced plans to close the unit. The move, the Danish publisher said in a release, comes after the division failed to establish a "market leading position" in the States, and attempts to sell the unit failed.
The U.S. division of Egmont, which published children's titles in the elementary, middle grade and teen categories, was established in 2008. Now, the division's spring 2015 list (distributed by Random House) will mark its last, and its office will close on January 31. Egmont USA's six staffers' final day in the office will be January 30.
Rob McMenemy, CEO of Egmont Publishing International, said the U.S. business, ultimately, "does not fit" with the company's strategy, as it has not been able to become a market leader in the States. He added that Egmont was "hoping to succeed with selling the business, unfortunately this has turned out not to be possible.”
