Local publishing mainstay Douglas & McIntyre announces bankruptcy procedure
Famed local publishing house Douglas & McIntyre announced today “that it has filed a Notice of Intention to make a proposal under the provisions of the Bankruptcy and Insolvency Act,” according to a brief media release from the company.
The release goes on to say that D&M’s management will be working with the Bowra Group Ltd., a Vancouver-based financial-advisory firm, to search out an investor or purchaser for its assets. The company says it will continue its operations during this process.
The announcement also noted that New Society Publishers, a D&M subsidiary since 2008 devoted to “activist, solution-oriented” books on such subjects as ecology, health, and urban planning, is a separate legal entity that will be unaffected by this notice of intention.
Douglas & McIntyre was established in 1971, and has grown to become a major independent in Canadian publishing. Working in both fiction and nonfiction, it has been responsible for putting out the work of such authors as Wade Davis, Wayson Choy, Johanna Skibsrud, Douglas Coupland, Robert Bringhurst, and Dambisa Moyo.
The Bowra Group will be contacting the company’s creditors with further information.