UPDATE 5: Quill & Quire: Kunati Books goes under
UPDATE 4: I received an email from my contact at Publishers Lunch. She said she wasn't planning on mentioning me but that she later saw my original blog post and felt there was additional info in it that would be helpful to others. She apologized, then mentioned I've done a service to a lot of people by coming forth with this info. That was my only intention.
UPDATE 3: I sent an email to my contact at Publishers Lunch asking them to remove the mention of me, as I received a nasty email from one Kunati author who thinks I'm talking about this for publicity. I'm not. I'm finishing what I started, which was coming forth with the truth about Kunati so that other writers would have that information.
UPDATE 2: If you came here to my blog because of the Publishers Lunch announcement, please note that I had no idea they would mention me or my blog. I answered an email from a gal at PL asking for the emails for Derek Armstrong and James McKinnon. I told her I used to be a Kunati author and specifically asked her to keep my name out of it. They didn't.
UPDATE 1: This news has now been confirmed by James McKinnon, editor at Kunati Books.
My original post:
I heard from 2 Kunati authors today that Canadian publishing company Kunati Books will be going under. I'm not sure if this means my ex-publisher will be filing for bankruptcy or just closing their "stable doors" and walking away.
Editor James McKinnon contacted my source and said that books could be bought back for a 70% discount.
While I am so happy that I got out of there early after experiencing too many problems, I feel awful for the authors caught up in this mess. I hope they all get a letter of reversion so that they get their rights back.
I'm not surprised that it's the end of Kunati though; there were just too many problems--the main one being that the publisher and his partners had no previous experience in running a publishing company. However, it's sad to see.
What I do know is that life after Kunati for me has been great! I'm less stressed and I see positive things happening in my career. So Kunati authors, don't despair. This door is closing, but others will open.