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Bankruptcy affects indie publishers
More than 150 US publishers are affected by Advanced Marketing Services' bankruptcy filing, according to the Washington Post, as AMS subsidiary Publishers Group West was put on the block by its parent company. According to the article, embroiled in its parent company's woes, PGW, which has become the nation's largest distributor of independent publishers' books, stopped payments owed to clients from the last four months of 2006. PGW President Richard Freese said bankruptcy code required the company to do so.
Among the publishers caught up in the situation is McSweeney's, which published Dave Eggers's latest novel, What is the What, just as Advanced Marketing's bankruptcy protection took effect.