B&T proposes liquidation with nothing left for unsecured creditors
The plan values B&T's assets at $1,666,460 against $10,203,152 in post-petition debt, with a creditor vote due December 1
Baker & Taylor proposed a plan to liquidate its remaining assets at an October 28 hearing in the U.S. Bankruptcy Court for the District of New Jersey, according to Publishers Weekly. A liquidation analysis filed with the plan puts the company's total assets at $6,598,076 and its estimated liquidation value at $1,666,460, against total post-petition debt of $10,203,152, with no assets available for unsecured creditors.
Creditors who have filed claims and been approved as voting classes have until 4 p.m. EST on December 1 to vote for or against the plan; holders of administrative claims and priority tax claims are non-voting classes. Publishers Weekly reported that if creditors vote against the plan and pursue an alternative, the resulting delays could add costs and increase the likelihood that no funds remain for creditors at all.
B&T closed in late 2025 after an acquisition deal with ReaderLink collapsed over B&T's debt, then filed for Chapter 11 in March 2026. Since then, Lakeside Book Company acquired B&T Publisher Services, Marble Press acquired CamCat Books' catalog and IP, and LibraryOne acquired B&T's digital resources, TitleSource360 and Boundless, which it has kept running.
Baker & Taylor isn't being sold anymore — it's being wound down, line by line, in a New Jersey courtroom. The numbers in this filing are brutal and plain: $1,666,460 against $10,203,152 owed, and the document says flatly there's nothing left for unsecured creditors. If you're owed money by B&T in any form, this is the week to find your claim paperwork, not the week to assume someone else is handling it.
From the Coral Wire edition of Sat, Oct 31 2026 · Coral Index 55/100 (Mixed signals)