Vancouver is losing one of its largest publishers as the company moves to focus on its distribution business. The strong Canadian dollar has been blamed for the having a negative impact on the Canadian book market. From the cbc.ca website:
In interviews on Monday, Raincoast marketing vice-president Jamie Broadhurst said that, in response, the company dramatically dropped its suggested retail prices by 20 per cent. He described the shuttering of the publishing program as a tough but necessary measure.
This means a loss of jobs in both Vancouver and Ontario, and a loss of yet another publisher of Canadian books.