D&M Publishers Inc. has received a 45-day extension for its protection from creditors. That period, which was originally due to end Nov. 21, has now been extended by the Supreme Court of British Columbia to Jan. 4, 2013.
D&M, including imprints Douglas & McIntyre and Greystone Books, filed for creditor protection on Oct. 21, as it struggled with $6.2-million of debt owed to 143 creditors. (A third imprint, New Society Publishers is a separate legal entity and in fact is owed more than $440,000 by D&M, according to a document filed to the Office of the Superintendent of Bankruptcy Canada.)
D&M, Canada’s largest independent publisher, was established more than 40 years ago and is based in Vancouver. Its authors include Carmen Aguirre, Wade Davis, Lorna Crozier, and the winner of this year’s Scotiabank Giller Prize, Will Ferguson – all of whom are owed money by D&M, according to the document. Ms. Aguirre, whose memoir Something Fierce won the CBC’s Canada Reads competition earlier this year, is owed more than $59,000.
D&M is working with financial trustee Bowra Group to find an investor or purchaser for its assets. The Bowra Group is accepting offers until 2:00 pm PST on Nov. 26.