Boundless, the much-criticized successor to failed UK crowdfunding publisher Unbound, is reported to have filed for bankruptcy administration, just months after it was formed. In March, Unbound entered in a pre-packaged bankruptcy, selling its assets — primarily author contracts — to Boundless, a new company led at the time by two of Unbound’s executives. (The payment was later revealed to £25,000 upfront and another £25,000 over time, which was “the only firm offer.”) Authors were quick to complain, since at the time of the sale they were promised that the new company would pay “all monies owed to authors by Unbound,” […]
