Feb
16
The bankruptcy court ruled that Perseus, not NBN, would be awarded the distribution contracts for the bankrupt PGW.
Via Shelf Awareness.
Archive for 'AMS'
Feb
12
The Judge in the bankruptcy suit filed by AMS may decide today which competing offer between Perseus and NBN for the distribution rights of 150 publishers who are creditors of AMS. Perseus may have the leg up, having signed contracts with 65% of the 150 publishers. However it is offering $.70 per dollar of debt whereas NBN is offering $.80.
Via Shelf Awareness.
Jan
11
Publishers’ Group West is a distributing arm of American Marketing Services. PGW also distributes books like Dark Horse Comics. One of the largest publishers distributed by PGW is Avalon PUblishing Group. It is now being sold to Perseus who has its own distributing arm and Perseus has announced it is going after other accounts of PGW.
Losing accounts is not going to help AMS out of bankruptcy. Per Shelf Awareness.
Dec
29
Advanced Marketing Services, Inc. is a book distributor to warehouse clubs, speciality retailers, e-commerce companies, and bookstores.
The Group provides product selection advice, specialized merchandising and product development services, distribution and handling services to membership warehouse clubs. Via Business.com
This morning, Publisher’s Weekly reported that AMS is filing for a Chapter 11 restructuring. Chapter 11 allows the business to basically refinance its debts by either discharging them (which means that the company doesn’t have to repay the debt) or restructuring the debt. It’s debts owed are meaningful:
Random House, which is owed $43.3 million
Simon & Schuster, Penguin and Hachette Book Group are all owed more than $20 million each
HarperCollins is owed $18 million
Although the bankruptcy filing says money will be available to pay unsecured creditors, Rautenstrauch said at this point he wasn't sure how much unsecured creditors will be paid. It is also not clear when any payments will be made. via Publisher’s Weekly.
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