If you have not yet heard the shocking news, Press Information has made the decision that Wrox Press Ltd. no longer has the funds to keep its doors open. The proposed reason for closing was that they could no longer meet their financial obligations and had no other resources to provide money. To me, this is some of the most shocking news I have heard in a long time. Wrox was a well-respected, high production publisher and now is gone. That's right, no more big red books on the shelves! Can you imagine? I am hoping that they will be bought out so that my book can stay on shelves. See the letter from Wrox to me below:
Dear author,
The Board of Peer Information has passed a resolution to place the company
into liquidation. The company is unable to meet its financial commitments,
and we have been unable to secure additional funding. The Directors are left
with no choice but to place the company into insolvency process.
Please stop work immediately on all contracted work from Peer Information.
Retain safe copies of all your work. The contract that you have with the
company remains valid. There will be a 3-4 week hiatus period until we are
able to discuss the future course of your project.
Louay Fatoohi is your point of contact for enquiries about editorial
contracts.
If you believe you are owed money for either submitted work against a
contract or for accrued royalties on existing titles, then you are a
creditor of the company. As such you will be contacted shortly by the
liquidator with information on pursuing your claims.
Please note that it is in your interest that you do not break the terms of your contract. You will be worse off if that happens. Please wait until you are contacted again.
Thank you for your understanding and cooperation.