Bloomberg Press Closing

-- Publishers Weekly, 11/24/2009 12:46:00 PM

Bloomberg Press, the publishing imprint of financial giant Bloomberg L.P., is closing down, although the exact timing of when the house will shut is still being worked out. Founded in 1996, Bloomberg Press does about 28 titles annually on business and investing and has a backlist of approximately 140 titles. It has been distributed by Ingram Publisher Services. No reason was given for the decision to close the press although sales have been slow this year because of the recession. Bloomberg will attempt to find other positions for the nine-person publishing staff within the organization.

Bloomberg Press is the second mid-sized publisher to go out of business in the last two weeks. Earlier this month, Graphic Arts Center Press filed for Chapter 7 liquidation.