LBF organiser Reed's 60% refund offer sparks criticism

London Book Fair organiser Reed Exhibitions has faced criticism after offering just 60% of fees back to some participating publishers and agents following this year's cancelled event.

In emails to those who had been due to take part in the fair, LBF cited a section of the contract which allowed organisers to retain part of the service charge and value-added service charges to cover expenses as a result of Force Majeure.

Some were offered 60% of their fees back or, if they chose to turn that down, a transfer of 100% of their fees to a booking for the same package at next year's event. The Bookseller understands this was not a blanket offer and other participants were offered different terms.

LBF added the deadline for a response was 14th May, also announcing a freeze on prices for LBF exhibitors returning next year.

Events organisers and ticket holders have already been offered a 100% refund by the organisers.

Several fair participants have said they were dismayed by the refund offer. Paul Feldstein of The Feldstein Agency branded it “absolutely outrageous”, telling The Bookseller: “there is no justification provided for their costs at 40%—a very round number indeed.”

In his reply to LBF, Feldstein questioned how the “reprehensible” sum had been arrived at when Reed's costs had been arrived at. “Your costs for us and any other IRC member was processing our contract and receiving our money,” he said.

One indie publisher said it was shocked by the amount of money kept for what amounted to a table and chairs at the event. It complained: “they might have incurred fewer of their own, and other people’s, expenses had they not shilly-shallied around during the weeks immediately preceding the Fair before finally succumbing to the inevitable decision to cancel.”

An LBF spokeperson said: “on behalf of Reed Exhibitions, The London Book Fair confirms that, within the previously advised timeframe, they have communicated with all exhibitors today regarding their participation at The London Book Fair 2020 (10-12 March). We have previously communicated with all visitors and conference delegates whose refunds were processed the week beginning March 16th. The London Book Fair would like to take this opportunity to thank everyone for their patience over the past 6 weeks as all contracts have been worked through.”