The Bookseller.com

13th October 2008

Small NZ publishers hit by distributor liquidation

04.03.08

Nearly 30 small publishers are out of pocket after their distributor Forrester Books went into liquidation, reports the New Zealand Press Association.

NZPA understands that 27 publishers were told that Forrester Books had gone under. The publishers have not been paid for any books sold since before Christmas.Eight full-time staff at Forrester Books, and three independent contractors are out of work.

Forrester Books, an Auckland company, has been in business since 1953. First owned by Lothian Books Australia, it was in 1991 purchased by David Forrester, who managed it since 1969. Forrester told NZPA there were only about 10 or 15 publishers they distributed for, and all should be able to find other distributors.

"They're not going to be dead and buried," he said. "They'll lose a little bit but they'll certainly continue--all of them."

Callum MacDonald, from liquidating company Buchanan MacDonald, said he had spoken with the publishers over the past two days. Most had already managed to arrange alternative arrangements, he said.

Books R Us owner Murray Brown said the liquidation of Forrester Books meant they were out of pocket by "thousands" of dollars.He said his company would not need to close down, but it was a "significant" amount of money they were owed.

Joseph Romanos, from publishing company Trio, said the closure of Forrester Books would shake any faith publishers had in the industry. "You don't know how a company's going, obviously they weren't going very well and weren't telling people. Maybe there are other distributors that are more solid and have better business practices, but it doesn't do much for the confidence of small publishers."

New Zealand Press Association

Home Global Forrester Books

Comments on this article