Wednesday, 19 December 2012


Vantage Press Declares Closure to Creditors | PW


Print Friendly and PDF
Publishers Weekly is the first in the industry trade to report on the closure of Vantage Press.

Vantage Press, one of the original ‘vanity’ publishing businesses, has closed three years after its acquisition by media investment banker David Lamb. In a letter to creditors received by PW, law firm Hendel & Collins of Springfield, Mass. writes, “Vantage does not have sufficient revenue to sustain itself as a going concern. It has, therefore, ceased all business operations.” The Web site and phone for Vantage are down and all inquiries are being directed to Hendel & Collins partner Joseph B. Collins in Springfield. The letter cites “substantial” liabilities to general and unsecured creditors against which Vantage has few assests.

Since mid-2010, Vantage books have been distributed by Ingram Publisher Services. In 2011, Vantage moved into trade publishing under the Vantage Point imprint and was reviewed favorably by self-publishing observers for its attempts to provide premium services for its paying authors. Details about rights and inventory are still not settled and more information will be available in the future.


Founded in 1949, Vantage relocated to Massachusetts in July apparently in an attempt to cut costs. Reached by phone in Massachusetts, Lamb had no comment at this time beyond confirming the contents of the letter.


Enhanced by Zemanta
Comment With:
OR
It's Your Choice!

No comments:

TIPM Live Facebook Stream