According to the 11 March 2019 Wall Street Journal, F+W Media Inc., the company behind the US Family Tree Magazine and marketer of enthusiast magazines, books, conferences, trade shows, and interactive media properties, filed for Chapter 11 bankruptcy in Wilmington, Delaware on Sunday. It has already laid off 40% of its workers.
Roberta Estes posts on her blog DNA Explained about the impact on her and many other independent genealogy entrepreneurs.
The company, through subsidiary Family Tree Books, is the publisher of many family history books including Blaine Bettinger's Family Tree Guide to DNA Testing and Genetic Genealogy and Tamar Weinberg's The Adoptee's Guide to DNA Testing which I'm currently reading.
Chapter 11 is not necessarily the end of the road. Chapter 11 in the USA is a provision for reorganization, usually a set period of time to negotiate an agreement with creditors for easier terms of payment, or reduction or elimination of debt, so the enterprise can continue. That said, they may survive if the creditors think that they are better off with the company continuing without or with less debilitating debt.
ReplyDeleteChapter 7 is the end of the line... dissolution to repay a portion of debts.
They have published many fine genealogy books over their history.... hope that they make it through this setback successfully.