Suppliers and authors left in lurch

Unbound restructures in face of cashflow issues

Sharma: We are working extremely hard to clear our debts and honour the trust placed in us

Crowdfunding publisher Unbound has left suppliers, investors and freelancers unpaid after failing to meet fundraising targets in 2024, according to a report from The Bookseller.

Cashflow issues at the London-based publisher have forced the company to undergo an internal restructure, a cut to payroll with redundancies and a pause on commissioning new titles.

Archna Sharma, who stepped up as CEO in January 2025 to replace Wil Harris, told The Bookseller that the company was working hard to clear its debts.

“I want to express my deepest regret for the delay in royalty payments and the financial uncertainty that our authors, freelancers, suppliers and investors have endured. I want to assure everyone engaged with Unbound that we are working extremely hard to clear our debts and honour the trust you have placed in us.”

Sharma joined Unbound in September 2024, as part of the publisher’s acquisition of her own imprint, Neem Tree Press. 

Both Sharma and Hugo Drayton, the firm’s new chairman, invested money into Unbound in 2024, though the company is reportedly looking for further investment to be able to cover its costs.

Sharma, who has a long background in managing investment banking firms and advising boards of FTSE 100 and NASDAQ firms, said she was committed to righting the company’s course.

“I know I have been entrusted with an iconic brand, and I am deeply committed to ensuring its success,” she said.

“I look forward to working with John Mitchinson and the wider team to not only stabilise but reimagine what this company can achieve. With plans to strengthen our core publishing business and explore innovative digital and direct-to-consumer initiatives, I believe Unbound can emerge stronger and more connected to its community than ever.”

Author Tom Cox, who has published seven popular crowdfunded books with Unbound, is due to see his next project published in March 2025.

Commenting on his Substack forum, Cox said he was “astonishingly tired of hearing promises and apologies”.

He added: “What I want to know is where the huge amount of money I’ve raised for them since 2017 has gone.”

He told The Bookseller he had not been paid royalties for more than six months, adding that writers should not be “shouldering the financial burden” for their publisher.

“I do not like to think about how my readers, who supported me only on the assumption that I would be paid for my books, probably feel now they know what is going on.”

Printweek has contacted Unbound for comment.


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