Baker & Taylor Files for Chapter 11 Bankruptcy, Ending 198 Years as America's Premier Book Distributor

Baker & Taylor, the 198-year-old book distributor founded in 1828, has filed for Chapter 11 bankruptcy in the District of New Jersey with $100M–$500M in liabilities and just $1M–$10M in assets. Its largest unsecured creditors include Penguin Random House ($23.3M), Simon & Schuster ($16.5M), HarperCollins ($15.5M), and Macmillan's MPS ($3.8M). Libraries that prepaid for undelivered books are owed approximately $33 million.