Canadian book distributor H. B. Fenn, which distributed books for Tor, Hyperion, and several other publishers in Canada, has filed for bankruptcy. H.B. Fenn has 125 employees.
In the company’s news release it blamed this development on “ loss of distribution lines, shrinking margins and the significant shift to e-books, all of which have significantly reduced the Company’s revenues.” Quill & Quire explains:
H.B. Fenn suffered a major setback two years ago when its largest sales and distribution client, Hachette Book Group, opened a Toronto publicity and marketing office and took over sales for major national accounts including Indigo, Costco, and wholesalers North 49 and BookExpress.
One of its employees said they are ceasing operations immediately.
Robert J. Sawyer, in a comment on this post, said “I owe a huge amount of my career to Harold and Sylvia Fenn. Absolutely wonderful people, and a great company.”
[Thanks to Steven H Silver for the story.]