The collapse of Derwent Howard, publisher of a bunch of titles in Australian newsagencies, gets messier by the day. Problems appear to have started with a shuffle between business entities with similar names – who employed people and published titles is a bit of a maze.
While on the surface, none of this directly affects newsagents, I’d note that we currently have stock from the company which is now under administration. I’d also note that Network Services is a creditor with close to $900K owed according to The Australian today. We are also likely to experience some bumps while titles move from publisher to publisher.
Bit confused at this end…. I have old Derwent Howard stock on shelf then just this week a large amount of MORE magazines arrive from “MEDIA FACTORY” – to make things more confusing these arrive from Network. Arent they owed $900k from Derwent Howard? MEDIA FACTORY is just the new entity of Jim Flynn and the old Derwent Howard. Im a little confused. Anyone else in the same boat or can anyone explain what is going on?