Breedon Books goes into administration

<p>Local interest and sporting press Breedon Books has gone into administration, with its entire assets - including unsold stock - being transferred over to newly-formed Derby Books Publishing.<br /><br />Both companies are run by Jane and Stephen Caron, who also run Caron Consultancy. Authors are being asked by DB Publishing, which was incorporated in the middle of October, if they will agree to have their contracts transferred. This will include a commitment to pay the 2008 and 2009 royalties owed. Those who do not agree will have their outstanding royalties put &quot;into the administration pot&quot;, and will become a creditor, however the rights will be reverted to the author.<br /><br />In a letter to authors, Stephen Caron said: &quot;I do hope that you decide to come over to the DB Publishing Company and that we can continue our otherwise successful relationship.&quot; All outstanding royalties on any contracts that are transferred, including advances from 2009 titles, will be paid by the end of February 2010, he added. <br /><br />&quot;If you have a book contracted for publication in 2010, you can either agree to the transfer of the contract to DB Publishing, or you can inform us of your intention to move this title to an alternative publisher.&quot;<br /><br />Authors have also been offered to buy back their own books &quot;at a special discount rate of 55% on RRP&quot;. Royalties can be paid on books, with a discount of 60%.&nbsp; <br /><br />Speaking to <em>The Bookseller</em>, Stephen Caron said Breedon had struggled because of &quot;a combination of factors&quot; including the wider economy, and a drop off in orders from chain retailers. &quot;As a result, we couldn&rsquo;t meet the payaments on some of the printing bills, and had no option to go down the administration route, to safeguard jobs and future of publishing in Derby.&quot;<br /><br />He declined to give a figure for the debts. The company&#39;s most recently filed accounts, which run for the year to end-March 2008, show a profit of &pound;291,000, and &pound;270,000 the previous 12 months. <br /><br />The decision to wind the company down had been taken &quot;within the last two weeks&quot;, he added. All 14 members of staff would be retained, and responses from authors so far have been &quot;very positive&quot;, Caron said. <br /><br />DB Publishing will start a reduced publishing programme - down from around 75 titles this year to roughly 50 - next March. Caron said he would &quot;certainly be doing core titles&quot; but &quot;may be less experiemtntal in our [other] titles, and getting back to basics of what Breedon was good at&quot;.<br /><br />Four titles due to be published this month have been postponed, pending approval from the authors to go ahead with publication. &quot;We would like to do them next year, but it is in the hands of the authors whether they wsh to carry on with it,&quot; said Caron.<br /><br />Breedon Books was founded in 1982 by sports journalist Anton Rippon. He sold it in 2003.</p>