The future of British bookselling

The unromantic truth is that British chain bookselling - with Waterstone's as its battered figurehead - now looks suspiciously like a murder victim who has decided to speed up his demise by committing suicide. The pincer movement executed by the likes of Asda and Amazon has made the cut-throat discounting of a few sure-fire bestsellers the norm - with all of its risks to future diversity. Far from resisting this assault, the retail chains - and the corporate publishers whom they now bully - have opted to act as their own Sweeney Todds. At Christmas, stores worked frantically to teach shoppers that the true value of a much-publicised new book with a cover price of £18 or £20 is, let's say, £6.99. It amounts to voluntary death by a thousand cuts.

More from Boyd Tonkin in The Independent.