Indie Authors Left in Limbo after Booktrope Closing - Booklife
Panzer made a trip to the Booklife site today. There he found a post about the end of May closing of Booktrope.
Always read the contract, kittens.
According to the post by Nicole Audrey Spector, authors who used Booktrope to publish their books have discovered problems they didn't anticipate. Booktrope's business model was to put together a book team (cover designer, book editor, book manager, etc.) and match them with an author. Now that Booktrope has closed their doors, authors find themselves contractually responsible to pay their teams a portion of their royalties for the lifetime of their book. The authors will be obligated no matter what form the book takes now, whether it is a new paperback, ebook, or whatever.
Panzer says, "Nobody was prepared for the closing."
Note: This is a l-o-n-g-ish post. You'll need a cup of tea and two muffins.