On the 10th of March, the crowdfunding publisher Unbound went into administration, with Allister Manson and Charles Turner of Opus Restructuring LLP appointed as the administrators of the company.
The business and assets have been acquired Boundless Publishing Group, with the promise of “ensuring continuity for authors and employees”. Yet, according to authors, many have been left unpaid and uncertain as to future royalties.
“The writers – the people supposed to be at the very centre of Unbound’s mission – are still owed hundreds or even thousands in unpaid royalties,” writes Jane Perrone on her blog.
Launched in 2011, Unbound had a unique publishing model. Once their pitch was accepted by the editorial team, Unbound would crowdfund the publication of the title. Fronting the crowdfunding, authors pitched the book idea directly to readers, raising funds for book publication. Once the financial target was attained, the book would be published as per regular publishing – without the need for the publisher to issue advances, which may not be recovered in sales. The model proved attracted acclaimed writers such as Richard Kingsnorth and Terry Jones, and amongst our gardening writers, the likes of Alys Fowler, Lia Leendertz and Jane Perrone who published books with Unbound.
Unbound’s financial challenges became apparent last year, when reports from authors regarding missed payments started to surface. The company confirmed in January that it had raised less than expected in Q4 2024.
“It is unforgiveable to me that Unbound got itself in such a financial hole that it couldn’t afford to pay its authors – the very people it claimed to champion – the royalties they were owed. I was owed a few hundred quid, which is far from ideal, but other authors are still owed thousands,” writes Perrone.
In her blog, Perrone provides a candid overview of the workings and financial arrangements with Unbound for the publication of her book, Legends of the Leaf.
For impacted authors, there is little choice but to await news, with the promise that “Boundless will be moving forward with the majority of Unbound projects you have supported” and instructing them to “check back at the end of March when our new website will be live and you will have access to your account and order status”.
