Wow. Have you seen the news this week? It’s a rough time to be a big-name publisher, or even a less well-known book distributor.
Borders is in Chapter 11 Bankruptcy and plans to close 30% of its stores. But that’s not the end of it. The bankruptcy means that a lot of its creditors will get a fraction of the monies they’re owed, which means publishers are going to be hurting…even more.
Then there’s the news that a Canadian book distributor has filed for bankruptcy. H.B. Fenn will also leave quite a few major publishing houses in need of a financial transfusion.
*shakes head* Great time to be trying to break onto the NY publishing scene…
