Good Book Guide rises again?
THE BOOKSELLER reported that the Good Book Guide has called in insolvency practitioners, with shareholders' and creditors' meetings happening on 1 September.
The Freelance was intrigued to discover the existence of a new "The Good Book Guide Ltd" and a "The Good Book Guide 2010 Ltd" both registered, on 19/02/2010 and 27/08/2010 respectively, from an address in St Annes on Sea, Blackpool, Lancashire - whereas "The Good Book Guide 2008 Ltd" is registered at an address round the corner from the GBG's trading address in York. The website appeared still to be taking book orders on 27 August.
Then we found a comment on 25 August from one Graham Holmes on the Bookseller article:
I am pleased to say we have been successful in buying the business. We are currently transitioning the business over with the assistance of the receiver and the previous owner. We have an issue of the Guide with the printer and that will include an update on the situation.
We hope this will go out soon. In addition we are preparing a press release. We are keen to understand problems subscribers have had and provide advice/assistance where we can. Please email email@example.com and we'll see what we can do.
A freelance member who is among the unsecured creditors tells us that Fiona Lafferty, editor of the last incarnation of the Guide, had her own contract terminated: "She emailed the Guide's reviewers on 5 August to explain the situation and let them know that she had given the receiver details of money owed to them. 'However' she added, 'it seems unlikely that there will be any money from the liquidation to pay unsecured creditors'.".
The new company would not be liable in law for the debts of the current one. That's the entire point of a limited liability company.