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The Quarto Group
The Quarto Group
The Quarto Group
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The Quarto Group is a global illustrated book publishing group founded in 1976. It is domiciled in the United States and listed on the London Stock Exchange.

Key Information

Quarto creates and sells illustrated books for adults and children, across 50 countries and in 40 languages, through a variety of traditional and non-traditional channels. Quarto employs around 330 people in eight offices in London, Brighton, New York City, Boston, Seattle, Southern California and Hong Kong.[5] In July 2020, its publication This Book Is Anti-Racist by Tiffany Jewell reached the Number 1 position on The New York Times bestseller list.[6]

The group was established by co-founders Laurence Orbach and Robert Morley and was listed on the London Stock Exchange in 1986.[7] Orbach was chairman and CEO until November 2012, when he was replaced as chairman by Tim Chadwick and as CEO by Marcus Leaver.[8]

Chuk Kin Lau, the principal shareholder, became Group CEO in July 2018.[9] In February 2020, the Italian publisher Giunti took a significant shareholding and Andrea Giunti joined Quarto's board of directors.[10][11]

In September 2020, Chuk Kin Lau became President and Polly Powell was appointed Group CEO. In January 2022, Alison Goff was appointed new Group CEO.[12]

History

[edit]

The Quarto Group was founded by Bob Morley, Michael Jackson and Laurence Orbach in the early 1970s and was finally established as The Quarto Group in 1976.[13] In 1986, Quarto listed on the London stock exchange.[14]

By the late 1990s, Quarto had acquired three new imprints, Rotovision, Book Sales Inc and Rockport Publishers and founded Quarto Children's Books, Quintet and Quintessence that published art, health, lifestyle and children's books. The group expanded further in the US – with the addition of Book Sales, Rockport Publishers, Walter Foster, Creative Publishing International, Motorbooks, and more recently, Cool Springs Press. In the UK, Quarto grew by acquiring Aurum Press and then Jacqui Small in 2004.[15] By the 2000s, The Quarto Group had increased imprints and genres, along with this, a steady increase in its share value. In August 2011, The Quarto Group acquired independent UK book publisher Frances Lincoln for £4.5 million.[16]

In 2012, Marcus Leaver took over from Laurence Orbach as Group CEO[17] By 2014, the group had started two new children's imprints: Wide Eyed Editions and Words & Pictures,[18] and acquired Small World Creations. In 2015 Quarto acquired Ivy Press and Ivy Kids for £1.5m and continued its expansion[19] In 2016, Quarto acquired SmartLab and becker&mayer, a co-edition publisher based in Bellevue, WA, for $9.8 million.[20]

Quarto sold its last two non-publishing businesses in 2017 – Books & Gifts Direct (Australia/New Zealand) and Regent Publishing Services (Hong Kong) – and is now solely focused on its core publishing expertise.[21]

Awards

[edit]
  • 2016 Waterstones Children's Book Prize – Illustrated Book: The Bear and the piano, by David Litchfield, published by Frances Lincoln Children’s Books.[22]
  • 2017 Waterstones Children's Book Prize – Illustrated Book: There’s a tiger in the garden, by Lizzy Stewart, published by Frances Lincoln Children’s Books.[23]
  • Blue Peter Book Awards 2019, Best Book with Facts: The Colours of History, by Clive Gifford, published by QED Publishing.[24]
  • British Book Awards 2018, Rights Professional of the Year: Karine Marko, Group Director of Foreign Rights at The Quarto Group.[25]

Controversy

[edit]

Investigative research by the Financial Times found out that since 2020, Quarto has been censoring some of its books in order to allow them to be printed and sold in China. References to Taiwan, Tibet, Hong Kong, and the Chinese dissident Ai Weiwei were deleted or altered, including in the award-winning book This Book is Anti-Racist.[26]

International publishing partnerships

[edit]

The Quarto Group has launched a number of foreign-language imprints through international partnerships with foreign publishers. These include:

Quarto Editora

The Quarto Editora imprint was launched in Brazil in 2014 through an international publishing partnership with Brasil Franchising and their publishing business Editora Nobel. Quarto Editora publishes in categories such as cookery, beauty and self-help. Nobel Editora distributes the books through its franchises and main book trade channels.

Kalimat Quarto

Kalimat Quarto was launched in 2016 as an international publishing partnership with Sharjah-based Kalimat Group. The imprint publishes books in Arabic and distributes them throughout the Middle East and North Africa.[27]

Quarto Iberoamericana

Announced in May 2017, Quarto Iberoamericana is Quarto's Spanish language imprint launched in partnership with Argentina-based publisher Catapulta Editores S.L. The imprint publishes 20 books a year with the first six books, launching in Autumn 2017, in adult categories such as cookery, lifestyle and spirituality. Catapulta Editores will be responsible for sales and distribution in Spain, Argentina, Chile, Uruguay, Paraguay, Bolivia, Peru and Ecuador. Quarto is expected to announce more partners to distribute the books in the rest of Latin America and North America in the near future.[28]

Imprints

[edit]
  • Aurum Press[a]
  • becker&mayer! books
  • becker&mayer! kids
  • Book Sales
  • Bright Press
  • Burgess Lea Press
  • Carnival
  • Chartwell Books
  • Cool Springs Press
  • Creative Publishing International[29]
  • Design Eye
  • Epic Ink Books
  • Fair Winds Press
  • Frances Lincoln
  • Frances Lincoln Children's Books
  • Global Book Publishing
  • Happy Yak
  • Harvard Common Press
  • Holler
  • Iqon Editions
  • Ivy Kids
  • Ivy Press
  • Kaddo
  • Leaping Hare Press
  • Motorbooks
  • MVP Books[29]
  • Quarry Books
  • Quarto Publishing
  • Quiver[29]
  • Race Point Publishing
  • Rock Point Gift & Stationery[29]
  • Rockport Publishers
  • Voyageur Press
  • Walter Foster
  • Walter Foster Jr.
  • Wellfleet Press
  • White Lion Publishing
  • Wide Eyed Editions
  • words&pictures
  • Zenith Press[29]

See also

[edit]

Notes

[edit]

References

[edit]
[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

The Quarto Group

View on Grokipedia
from Grokipedia
The Quarto Group, Inc. is a global publisher specializing in illustrated non-fiction books and intellectual property, founded in London in 1976 by Laurence Orbach, Bob Morley, and Michael Jackson. Domiciled in the United States with corporate headquarters in London, the company operates offices in the UK, US, and Hong Kong, employing approximately 300 people to create and distribute titles across diverse categories including lifestyle, history, science, and children's books. Listed on the London Stock Exchange under the ticker QRT, Quarto generates annual revenue around $150 million and produces over 600 books yearly, sold in 45 countries and 35 languages. Quarto pioneered cost-effective production of high-quality illustrated books through international co-publishing partnerships, addressing the high expenses of full-color in the . The company's imprints, such as Frances Lincoln, , and Quarto Kids, encompass practical guides, visual references, and educational content aimed at enriching readers' lives. Notable successes include the Little People, BIG DREAMS series and bestsellers like This Book Is Anti-Racist by Tiffany Jewell, which topped The New York Times list, alongside expansions into custom publishing and digital adaptations. Despite market challenges, including a 16% revenue dip in early 2023 due to reduced print volumes, Quarto maintains its position as a leader in illustrated publishing through innovation and global reach.

Origins and Development

Founding in 1976

The Quarto Group was established in in 1976 by Laurence Orbach, , and , who identified an emerging opportunity in the publishing industry. The trio's collaboration stemmed from Morley's design expertise and Jackson's writing background in developing illustrated book concepts, which they partnered with Orbach to commercialize. This founding coincided with technological advancements in the that lowered the barriers to producing full-color illustrated books, including improvements in and color separation processes that reduced per-unit costs for high-visual-content titles. Previously expensive due to labor-intensive techniques, such books became viable for broader , prompting innovators like the Quarto founders to specialize in visually intensive formats. From inception, Quarto adopted a hybrid model as a content creator and publisher, focusing on niches like , , and where illustrations were central to appeal. The early strategy emphasized packaging complete book concepts—encompassing text, design, and imagery—for sale to international partners via co-edition deals, thereby amortizing production expenses across multiple language markets and minimizing financial risk in a capital-intensive sector. This approach allowed Quarto to differentiate through quality and specialization rather than mass-market volume.

Early Specialization in Illustrated Publishing

Founded in 1976, Quarto pioneered the production of full-color illustrated books amid rising awareness among publishers of visual content's appeal, focusing on titles that leveraged high-quality imagery to engage readers beyond traditional text-dominated formats. This approach differentiated Quarto from competitors by emphasizing practical, visually driven content such as how-to guides and reference works, where illustrations served as core instructional tools rather than mere supplements. High production costs for in the 1970s posed significant barriers, as full-color processes demanded substantial upfront investments in , , and printing that small runs could not amortize. Quarto addressed this through an innovative co-edition model, developing master editions for international licensing to multiple publishers, thereby distributing costs across global markets and enabling without relying on domestic sales alone. This strategy allowed Quarto to maintain quality standards while scaling output, turning what was then a risky venture into a viable . By the early 1980s, had cultivated expertise in categories like gardening, cooking, and do-it-yourself (DIY) projects, producing step-by-step visual references that established its reputation for accessible, illustrated expertise in lifestyle and practical skills. These titles prioritized clear diagrams, photographs, and sequential instructions, meeting market demand for self-reliant, hands-on content amid growing consumer interest in home-based activities.

Expansion and Operations

Key Acquisitions and Imprints

Quarto's imprint portfolio has been shaped by targeted acquisitions that enhanced its capabilities in producing illustrated, practical , particularly step-by-step guides in creative arts, home improvement, and categories. The 1996 acquisition of Walter Foster Publishing, originally established in 1922, integrated a longstanding specialist in art instruction books featuring detailed, visual tutorials for skills like , , and crafting, thereby diversifying Quarto's output into hands-on creative while leveraging shared production expertise in high-quality illustrations. In 2011, acquired Cool Springs Press, a publisher of DIY-focused titles on , , and automotive maintenance, which added specialized how-to manuals with photographic step-by-step instructions, enabling synergies in content creation for skill-based, inspirational projects that appeal to hobbyists and self-improvers. The same year, the purchase of Frances Lincoln for £4.5 million brought an imprint renowned for children's picture books and illustrated guides, broadening Quarto's range into youth-oriented narratives and lifestyle topics like regional , which complemented existing imprints by incorporating narrative-driven visuals and practical advice into diversified formats. These imprints collectively support Quarto's emphasis on operational integration, such as combining art techniques from Walter Foster with home project applications from Cool Springs, to produce cohesive lines of instructional content that prioritize empirical, replicable methods over abstract theory.

International Partnerships and Global Reach

The Quarto Group extends its reach through licensing agreements and distribution partnerships that facilitate the worldwide sale of its illustrated titles in over 50 countries and 40 languages. These collaborations enable efficient market entry by leveraging local expertise and infrastructure, while sharing the substantial production costs inherent to high-quality visual content. In , Quarto's foreign rights activities resulted in deals with more than 550 international customers across 49 countries and 37 languages, generating significant additional revenue streams beyond primary sales. Such licensing efforts underscore a pragmatic approach to global expansion, prioritizing adaptable over rigid territorial control. Distribution networks further amplify this, including arrangements like the U.S. partnership with Russia's Clever Publishing to handle its titles domestically. Supporting these ventures, Quarto maintains offices in the United States and , employing around 300 staff dedicated to editorial, sales, and operational functions. This structure bolsters exports of practical , particularly to North American and European markets, where demand for illustrated how-to guides remains strong. To align with local preferences, the group develops regionally tailored content, such as specialized and titles adapted for specific climates and practices, without compromising the core emphasis on visual, step-by-step formats.

Financial Trajectory

Public Listing and Growth Phase

The Quarto Group gained admission to the main market of the London Stock Exchange in 1986, raising funds specifically to support acquisitions and broaden its publishing scope into new categories alongside early adaptations to channels. This listing marked a pivotal shift toward entrepreneurial expansion, enabling organic growth and strategic investments that diversified revenue streams beyond core illustrated books into practical and lifestyle-oriented titles. Revenue expansion during this phase was driven by scaled production of high-margin, visually rich works, with the company reporting consistent increases through targeted category development and international networks. By the late , these efforts culminated in peak performance within illustrated segments, where backlist titles and content provided stable income amid fluctuating frontlist . For instance, group revenues stabilized and grew modestly in early 2019, reaching $56.4 million in the first half alone, underscoring the efficacy of pre-disruption scaling strategies. To align with its expanding U.S. operations and optimize fiscal structure, established domicile in the United States while preserving its foundational presence for editorial and distribution continuity. This adjustment facilitated enhanced access to American markets and capital efficiencies, supporting sustained growth in revenue-generating illustrated publishing without relocating core heritage functions.

Delisting and Privatization in 2023-2024

On November 30, 2023, The Quarto Group announced its intention to voluntarily delist from the Main Market of the London Stock Exchange, citing the increasing costs and administrative burdens of maintaining status amid challenging market conditions for small-cap publishers. The board secured commitments from shareholders holding over 72% of voting shares to support the resolution, which required at least 75% approval to proceed. Shareholders convened a special meeting on December 14, 2023, where the proposal to cancel admission of the company's common shares passed overwhelmingly, paving the way for delisting effective January 18, 2024—exactly 20 business days after the meeting as required by exchange rules. This marked the end of Quarto's 37-year tenure as a publicly listed entity, originally admitted in 1986, allowing the company to pivot toward greater operational flexibility without quarterly reporting pressures or expenses that had strained resources during periods of revenue volatility. Concurrent with delisting, Quarto launched a on January 18, 2024, to acquire all remaining common shares at £1.50 each—a 25% premium to the November 28, 2023, closing price—financed through internal resources and open until February 15, 2024, to facilitate a full transition to private ownership. The move was driven by strategic considerations, including reduced exposure to market scrutiny and capital allocation toward core illustrated , as economic headwinds like and supply chain disruptions had amplified the disadvantages of listed status for a niche operator. Following delisting, continued uninterrupted operations as a private company, emphasizing long-term content development and distribution efficiencies over short-term financial metrics, with no immediate structural changes to its imprints or global workforce. This privatization enabled refocus on enduring publishing strengths amid broader industry contractions, where public listing had imposed compliance costs exceeding £1 million annually in recent years.

Recent Performance and Market Challenges

In the first half of 2023, The Quarto Group's revenue declined by 16% year-over-year to $52 million, reflecting post-pandemic normalization in book sales alongside the discontinuation of non-core operations such as Quarto Distribution Services and Smart Lab Toys. Operating profit fell to $3.1 million during this period, pressured by persistent in freight rates and printing costs, which remained elevated despite some stabilization in supply chain volatility. U.S. sales dropped 23% to $26.5 million, partly attributable to the closure of the distribution in 2022, which had previously supported but became unviable amid rising operational expenses. These challenges mirrored broader industry trends, including a shift toward digital formats and e-books that eroded demand for illustrated print titles, Quarto's core strength, while fixed print costs amplified margin compression from softer physical retail volumes. Company announcements highlighted "turbulent" market conditions, with management citing ongoing print and freight pressures as key headwinds into late 2023, even as core revenue held steadier after adjusting for exited segments. Following its delisting from the London Stock Exchange in January 2024, detailed public financial disclosures diminished, but parent company Group's reports indicated 's full-year 2023 revenue rose 8% overall, though underlying performance excluded acquisition timing effects and faced similar cost structures. Into 2025, sustained activities, releasing new title catalogs amid persistent digital competition and structural shifts away from physical books, underscoring the need for cost discipline in a volatile sector.

Recognition and Impact

Awards and Industry Accolades

Titles published by The Quarto Group's imprints have received recognition in categories such as children's illustrated books, , and , often reflecting strong market performance through sales volumes exceeding hundreds of thousands of copies. For instance, The Bear and the Piano by David Litchfield, issued by Frances Lincoln Children's Books in 2016, won the Waterstones Children's Book Prize in the Illustrated Book category, with over 120,000 copies sold in the UK alone. Similarly, the Little People, BIG DREAMS series has achieved multimillion-copy global sales, underscoring its commercial impact alongside critical nods for biographical non-fiction aimed at young readers. In and , Quarto titles have garnered specialized honors tied to practical appeal and sales efficacy. What Makes a Garden by Jinny Blom, published in 2023, earned the Book of the Year at the 2024 Garden Media Guild Awards, highlighting its influence in publishing. The Vegetable Gardening Book by Joe Lamp'l, released in 2022, received a Silver in the Book Publisher/Producer General Readership category at the 2023 GardenComm Laurel Media Awards, based on its utility for home growers. Additional works like Tiny and Wild, Dry Climate Gardening, and The Vegetable Garden Problem Solver Handbook secured 2024 American Society Book Awards, affirming Quarto's output in empirically driven content. Children's non-fiction and picture books from Quarto have frequently appeared on bestseller lists, serving as proxies for industry validation through consumer demand. This Book Is Anti-Racist by Tiffany Jewell reached the #1 position on The New York Times bestseller list in July 2020. The Little People, BIG DREAMS: Taylor Swift volume became a #1 Sunday Times and New York Times bestseller in 2024, while also shortlisted for Book of the Year at the 2025 British Book Awards. Illustration-focused titles like I Love Books and Flooded by Mariajo Ilustrajo each won the 2023 Klaus Flugge Prize for outstanding debut illustration, with further shortlistings for Illustrator of the Year at the 2025 British Book Awards, reflecting production excellence in visual storytelling. Industry accolades for Quarto extend to design and management, emphasizing operational strengths in illustrated formats. The Little People, BIG DREAMS series won recognition in the British Book Design & Production Awards for branding and series identity. Rockport Publishers, a Quarto imprint specializing in graphic , has produced multiple titles honored in design competitions, contributing to its reputation for high-quality production in art and applied disciplines. These honors, frequently linked to verifiable sales data rather than subjective criteria, highlight Quarto's focus on market-responsive illustrated .

Criticisms and Disputes

Investor Rebellions and Management Critiques

In 2012, major shareholder Harwood Capital Management, led by Christopher Mills, launched a successful campaign to oust Quarto Group founder and CEO Laurence Orbach, citing chronic underperformance and resource misallocation toward niche, low-return ventures. Harwood specifically criticized Orbach's acquisition of The World of Fine Wine magazine as an "indulgent" diversion from core publishing profitability, arguing it exemplified a pattern of favoring personal interests in luxury segments over maximization. This backlash culminated in Orbach's removal as director on November 7, 2012, with Harwood securing over 50% voting control to install new leadership aimed at refocusing on efficient operations. The 2012 revolt highlighted investor frustration with Orbach's strategic tilt toward specialized imprints, such as wine and publications, which critics viewed as diluting capital from high-volume illustrated books that drove Quarto's original growth model. Harwood's proxy battle emphasized that such preferences had led to stagnant returns, prompting demands for executive replacement to prioritize scalable, profit-oriented decisions over boutique expansions. Broader critiques from investors pointed to opaque decision-making under Orbach's long tenure, including a proliferation of mediocre acquisitions that failed to enhance overall enterprise value. Recurring governance tensions resurfaced in 2018, when Orbach, retaining a 20% stake despite his prior ejection, orchestrated a boardroom coup to reclaim control as executive chairman, forcing CEO Marcus Leaver's amid renewed concerns over mounting and strategic drift. This event underscored persistent patterns of unrest, where activist investors challenged entrenched management for prioritizing niche pursuits—potentially insulated by founder loyalty—over transparent, returns-driven governance, though Orbach's return stabilized immediate control without resolving underlying profit allocation debates.

Operational and Employee Concerns

Employee reviews on platforms such as and frequently cite reactive management practices at The Quarto Group, characterized by a focus on correcting errors rather than providing positive reinforcement or strategic guidance. Staff feedback describes an environment of constant miscommunication, , and abrupt shifts in direction, with management perceived as lacking vision and slow to adapt to market trends, leading to operational instability. These critiques extend to a perceived disconnect between executives and operational staff, where profit priorities manifest in crushingly small budgets and insufficient loyalty during crises like the , exacerbating workflow disruptions. Operationally, The Quarto Group has faced elevated print and freight costs, which constitute its largest expenses and have pressured margins, prompting measures such as increased reliance on local suppliers and rigorous inventory reviews to mitigate impacts on production timelines. In August 2022, the company closed its distribution arm, citing turbulent market conditions, which streamlined costs but altered internal logistics and contributed to employee-reported chaos in . Tight controls on pre-publication and staffing levels have been implemented to address these pressures, though reviews indicate persistent disorganization in execution, with limited trust afforded to employees in decision-making processes.

References

  1. https://www.publishersweekly.com/pw/by-topic/industry-news/publisher-news/article/69780-quarto-group-comes-of-age.html
  2. https://www.quarto.com/aboutus/default.aspx
  3. https://www.crunchbase.com/organization/the-quarto-group
  4. https://www.zoominfo.com/c/the-quarto-group-inc/96994353
  5. https://www.quarto.com/aboutus/history.aspx
  6. https://www.quarto.com/ourimprints/default.aspx
  7. https://cbcbooks.org/2023/01/20/publisher-profile-the-quarto-group/
  8. https://www.publishersweekly.com/pw/by-topic/industry-news/financial-reporting/article/93079-a-slimmer-quarto-group-sees-sales-and-earnings-fall.html
  9. https://shelf-awareness.com/dedicatedshelf/2017-04-10/walter_foster_publishing:_fresh_and_contemporary.html
  10. https://www.publishersweekly.com/pw/by-topic/industry-news/publisher-news/article/46336-quarto-acquires-cool-springs-press.html
  11. https://www.quarto.com/Cool-Springs-Press
  12. https://www.publishersweekly.com/pw/by-topic/industry-news/financial-reporting/article/48371-quarto-results-rise-buys-frances-lincoln-ltd.html
  13. https://www.thebookseller.com/news/quarto-snaps-frances-lincoln
  14. https://publishingperspectives.com/2017/03/international-rights-impact-amy-hunter-karine-marko/
  15. https://www.publishersweekly.com/pw/by-topic/childrens/childrens-industry-news/article/75626-quarto-to-distribute-russia-s-clever-publishing-in-the-u-s.html
  16. https://www.publishersweekly.com/pw/by-topic/industry-news/financial-reporting/article/83148-quarto-posts-profit-in-2019-uncertain-outlook-for-2020.html
  17. https://www.publishersweekly.com/pw/by-topic/industry-news/financial-reporting/article/80945-quarto-on-track-in-2019.html
  18. https://www.quarto.com/public/pdf/investor/20231130_070432_Circ_re_Proposed_Cancellation_Admission_of_Shares_30_Nov_2023.pdf
  19. https://www.publishersweekly.com/pw/by-topic/industry-news/financial-reporting/article/94114-quarto-delists-from-london-stock-market-makes-tender-offer.html
  20. https://www.lse.co.uk/news/quarto-shares-dive-as-plans-to-leave-london-main-market-in-january-woq77gb8omg3jnm.html
  21. https://www.quarto.com/public/pdf/investor/20231214_095635_Result_of_Special_Meeting_14_Dec_2023.pdf
  22. https://www.thebookseller.com/news/quarto-confirms-voluntary-delisting-from-the-london-stock-exchange-for-january
  23. https://www.thebookseller.com/news/quarto-announces-voluntary-delisting-from-the-london-stock-exchange
  24. https://www.publishersweekly.com/pw/by-topic/industry-news/financial-reporting/article/93865-quarto-to-go-private-delist-from-london-stock-market.html
  25. https://www.quarto.com/public/pdf/investor/20240118_045318_Tender_Offer_18_Jan_2024_RNS_Reach.pdf
  26. https://news.futunn.com/en/post/36764880/lion-rock-group-01127-quarto-shareholders-offered-to-buy-up
  27. https://www.quarto.com/public/pdf/investor/20231130_070125_CIRCULAR_RE_PROPOSED_CANCELLATION_OF_ADMISSION_OF_SHARES.pdf
  28. https://www.investegate.co.uk/announcement/rns/quarto-group-inc---qrt/half-year-results/7725034
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  33. https://www.lionrock.hk/pdf/investor/20240423/e1127_240418_ar.pdf
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  35. https://www.quarto.com/Frances-Lincoln-Children%27s-Books
  36. https://www.quarto.com/books/9780711282957/what-makes-a-garden
  37. https://www.quarto.com/books/9780760375716/the-vegetable-gardening-book
  38. https://www.instagram.com/p/C4HJZhrItYu/
  39. https://www.quarto.com/books/9780711295094/taylor-swift
  40. https://www.quarto.com/books/9781836000174/i-love-books
  41. https://www.quarto.com/books/9780711276789/flooded
  42. https://www.instagram.com/reel/DO-q0U-jFs0/
  43. https://www.quarto.com/Rockport-Publishers
  44. https://www.the-independent.com/news/business/news/harwood-reports-quarto-over-vote-8274674.html
  45. https://www.the-independent.com/news/business/news/quarto-founder-forced-to-quit-after-36-years-8294745.html
  46. https://www.thebookseller.com/news/orbach-removed-quarto-director
  47. https://www.thetimes.com/business-money/companies/article/quarto-boss-on-way-out-and-it-might-be-a-quickie-pt3jtnnl6lw
  48. https://www.publishersweekly.com/pw/by-topic/industry-news/publisher-news/article/76908-after-board-coup-orbach-retakes-reins-at-quarto.html
  49. https://www.publishersweekly.com/pw/by-topic/industry-news/people/article/76970-leaver-resigns-from-quarto.html
  50. https://www.thebookseller.com/news/calls-clarity-following-quarto-boardroom-coup-788961
  51. https://www.thetimes.com/business-money/markets/article/founder-laurence-orbach-leads-coup-at-quarto-books-m9nzxm58w
  52. https://www.indeed.com/cmp/The-Quarto-Group/reviews
  53. https://www.glassdoor.com/Reviews/The-Quarto-Group-Reviews-E22592.htm
  54. https://www.glassdoor.com/Reviews/Employee-Review--RVW32539764.htm
  55. https://www.indeed.com/cmp/Quarto-Publishing-Group/reviews
  56. https://www.annualreports.com/HostedData/AnnualReportArchive/q/LSE_QRT_2021.pdf
  57. https://www.publishersweekly.com/pw/by-topic/industry-news/financial-reporting/article/88784-quarto-group-posts-double-digit-gains-in-sales-earnings.html
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