ECW Copes with Twin Bankruptcies
by Leah Eichler -- Publishers Weekly, 5/20/2002
ECW Press, with offices in Toronto and Montreal, is looking to weather the double blow of bankruptcy filings by its former U.S. distributor, LPC Group, and current Canadian distributor, General Distribution Services. ECW, which is now distributed by IPG in the U.S., is owed about C$650,000 from LPC and GDS combined. Also, ECW has exhausted its borrowing power after expanding its list--using business and personal assets to fund its growth--over the last few years. It is receiving queries from interested buyers or investors, but ECW president Jack David wouldn't elaborate on specific offers.
"We are looking for an equity partner, either in a minority or majority position," David told PW. "We are hopeful that we will find someone who respects our list."
ECW, which generates revenues of C$2.5 million a year, has expanded its list to 50 books over the last few years to include more general interest and pop culture titles.
