Tuesday, March 19, 2013
Entertainment Book Maker Files for Chapter 7 Bankruptcy, Closes Doors...
The company, which has been around since 1962 reportedly had been experiencing internal turmoil with it's investors. A chapter 7 bankruptcy filing was announced on 3/12/13. In the United States, a Chapter 7 Bankruptcy filing means closing doors and selling off assets. Entertainment Publications layoffs were company wide.
What the future holds is uncertain. There is value in a business that has become a fundraising standard with schools and groups who make a profit selling the books but, what seems inevitable is that the school fundraising landscape has changed.
For folks with a 2013 coupon book, the coupons are still good and should be accepted by vendors.
Here is a little note I wrote to some of our customers in response:
In the event you haven’t already heard, after over 50 years of operation, Entertainment Publications filed Chapter 7 Bankruptcy. The closing of their office was abrupt and the company laid off over 600 employees.
Although we never considered Entertainment to be a direct competitor, many schools we work with have called in asking for advice. Clearly, the company was important to schools and groups all across the country and they will be missed.
Beyond the coupon books, Entertainment did offer cookie dough to some schools. In case your school is in need, we’ve asked our employees and representatives to be helpful in expediting cookie dough fundraisers to any schools requiring a quick solution.
The loss of Entertainment reminds us that many good people are working hard to support education each and every day. We extend our very best wishes to employees out of work as a result.
If there is anything we can do to assist you or your school, please let us know. If you need urgent help replacing a spring fundraiser call 1-877-7-BELIEVE (1-877-723-5438).
To View Believe Kids Fundraising Lineup, click here.
For News on Entertainment Publications, click here.
Ok, until next time!
Elementary School Fundraisers