Beautiful Books facing administration

Beautiful Books facing administration

An administrator for Beautiful Books is expected to be appointed by close of business on Monday (10th October).

In a letter to authors, David Lewis, director of The Beautiful Group PLC, said the company has had cash flow difficulties, and discussions to find a buyer, or another publisher prepared to keep some or all of its titles in print and pay royalties under current contracts, have not borne fruit.

Lewis told authors that notice of intent to appoint an administrator has been given and it was likely that that would take place on Monday.

Authors have been asked to indicate by the end of today (7th October) whether they would be willing to assign their current contract to a new venture, which would pay back some of any existing royalties owed and guarantee future royalty payments.

Beautiful Books m.d. Simon Petherick said he would be making no comment ahead of issuing a statement on Tuesday (11th October). David Lewis could not be reached for comment.

Agents expressed sadness at the development. Julian Friedmann, who represents Costa First Novel Award winner author Kishwar Desai, published by Beautiful Books, said: "A lot of major publishers turned down Kishwar, saying they thought her novel had a difficult subject. It is so important we have publishers like Beautiful Books, who will take risks and be imaginative in marketing."

Patrick Walsh of Conville and Walsh commented: "Obviously it is sad when any publisher experiences financial problems and I wish them the very best."