>Supporters who pledged money for books set to be published by the crowdfunding publisher Unbound, that were dropped when the company went into administration on 10th March, will not see their contributions refunded, The Bookseller understands.
>The new publisher formed by Unbound co-founder and publisher John Mitchinson and CEO Archna Sharma committed to take most books forward under Boundless IP. However, the company said that while most projects would be seen through to publication, some would not be going ahead.
>The publisher went into administration following revelations of “financial uncertainty” in January, which had resulted in authors and freelance contributors waiting months for payment for their work. Allister Manson and Charles Hamilton Turner of Opus Restructuring LLP were appointed as joint administrators.
>In a statement, Sharma and Mitchinson said: “A very small number of Unbound titles not acquired by Boundless are now being handled by the administrators. Boundless has committed to pay the money owed by Unbound to all its authors and freelance suppliers. Payment plans were issued last Friday and payments have already started. All plans will be paid in full before January 2026. Boundless is publishing 36 new books and 11 second-outing paperbacks in 2025 and 34 new books and nine second-outing paperbacks have so far been confirmed for 2026. Boundless will not be crowdfunding books but it will be running innovative pre-order campaigns for new titles from the beginning of May 2025.”
>However, some authors who took rights back to their books, or whose projects were cancelled by the publisher, have claimed they were initially given the impression that the money raised would be returned to the supporters of their books.
>According to Unbound’s refund policy and an email seen by The Bookseller, supporters were reportedly told that they could either request a refund for the money they had pledged for a book – where that book was no longer being published – or receive credits to use against any other book within a two-year period.
>After it was announced that the company had gone into administration, some authors were reportedly told by an Unbound staff member that pledgers would not receive refunds. This is in line with the fact that the pledgers would likely be considered shareholders by the administrators and sit at the bottom of the “priority waterfall” of creditors awaiting repayments by the insolvent company.
>Artist and author Mat Pringle was crowdfunding a book about British folk ballads called Singing Up the Sun, after signing a contract with Unbound in July. By Christmas, he said he had become aware that other writers were “awaiting payment of invoices” and “felt uncomfortable asking people to buy into a project that might not happen”. He decided to walk away from the project, believing that his supporters would get their money back, and that he could take the book to another publisher.
>A message seen by The Bookseller, allegedly sent to Pringle’s supporters, outlined the publisher’s refund policy. The money was due to be returned the week that Unbound went into administration, according to the author, but he claimed he was later told that his backers would not be refunded.
>Pringle is currently looking to get his book published by a new publisher, and noted that he is “starting from scratch”, having to factor a funding gap into “any attempt to move forward with the project”. He said: “People have already bought the book. Why are they going to buy it again?”
>Another author, who wished to remain anonymous, said he was informed by Sharma that his book was no longer being published. After enquiring whether the money would be returned to backers, he claimed he was told by an Unbound editor that his supporters would not be getting refunds and that the administrators would be in touch with further information. “I still get angry emails and comments online from backers who are demanding to know from me what’s going on,” he said.
>Meanwhile, one other author who has had their book dropped described the process of trying to get clarity on their situation as a “huge admin task”, and said that trying to get answers has been “very, very hard”. They described being sent a 26-page administration letter, which they said would “need a lawyer to even understand”.
>The author said a particularly difficult aspect of the process has been talking to their “disappointed supporters” and not being able to give them any information on whether they will be getting their money back. “When – and if – I do get the basic information and I find out that my supporters will not be refunded, and it looks like this might be the case, releasing the book somewhere else would be extremely hard,” they said. “My core audience would be asked to pay twice for the same, extremely delayed, book. Never mind the years of unpaid work I’ve done.”
>The publisher has not answered questions about the money that was crowdfunded, despite The Bookseller’s repeated attempts to gain clarity on the situation.
>When The Bookseller reached out to the publisher to specifically address the issue of refunds for the supporters of unpublished books, Sharma and Mitchinson said: “As we have made clear previously, all authors, including those who reverted their rights, will be paid what they were owed by Unbound, by Boundless.
>“Most of Unbound’s crowdfunded books will be published and pledges fulfilled by Boundless. A very small number weren’t transferred. What happens to them and the customers who pledged for them is a matter for the administrators and we are not able to comment on their process.”
>The statement added that the administrators have duties around reporting requirements and conduct reports, and that the “circumstances of Unbound’s failure should not be dissected in public outside their investigations” before their report is published. They are set to send a first report to creditors in mid-May and statutory directors’ conduct reports to The Insolvency Service.
1 Comment
>Supporters who pledged money for books set to be published by the crowdfunding publisher Unbound, that were dropped when the company went into administration on 10th March, will not see their contributions refunded, The Bookseller understands.
>The new publisher formed by Unbound co-founder and publisher John Mitchinson and CEO Archna Sharma committed to take most books forward under Boundless IP. However, the company said that while most projects would be seen through to publication, some would not be going ahead.
>The publisher went into administration following revelations of “financial uncertainty” in January, which had resulted in authors and freelance contributors waiting months for payment for their work. Allister Manson and Charles Hamilton Turner of Opus Restructuring LLP were appointed as joint administrators.
>In a statement, Sharma and Mitchinson said: “A very small number of Unbound titles not acquired by Boundless are now being handled by the administrators. Boundless has committed to pay the money owed by Unbound to all its authors and freelance suppliers. Payment plans were issued last Friday and payments have already started. All plans will be paid in full before January 2026. Boundless is publishing 36 new books and 11 second-outing paperbacks in 2025 and 34 new books and nine second-outing paperbacks have so far been confirmed for 2026. Boundless will not be crowdfunding books but it will be running innovative pre-order campaigns for new titles from the beginning of May 2025.”
>However, some authors who took rights back to their books, or whose projects were cancelled by the publisher, have claimed they were initially given the impression that the money raised would be returned to the supporters of their books.
>According to Unbound’s refund policy and an email seen by The Bookseller, supporters were reportedly told that they could either request a refund for the money they had pledged for a book – where that book was no longer being published – or receive credits to use against any other book within a two-year period.
>After it was announced that the company had gone into administration, some authors were reportedly told by an Unbound staff member that pledgers would not receive refunds. This is in line with the fact that the pledgers would likely be considered shareholders by the administrators and sit at the bottom of the “priority waterfall” of creditors awaiting repayments by the insolvent company.
>Artist and author Mat Pringle was crowdfunding a book about British folk ballads called Singing Up the Sun, after signing a contract with Unbound in July. By Christmas, he said he had become aware that other writers were “awaiting payment of invoices” and “felt uncomfortable asking people to buy into a project that might not happen”. He decided to walk away from the project, believing that his supporters would get their money back, and that he could take the book to another publisher.
>A message seen by The Bookseller, allegedly sent to Pringle’s supporters, outlined the publisher’s refund policy. The money was due to be returned the week that Unbound went into administration, according to the author, but he claimed he was later told that his backers would not be refunded.
>Pringle is currently looking to get his book published by a new publisher, and noted that he is “starting from scratch”, having to factor a funding gap into “any attempt to move forward with the project”. He said: “People have already bought the book. Why are they going to buy it again?”
>Another author, who wished to remain anonymous, said he was informed by Sharma that his book was no longer being published. After enquiring whether the money would be returned to backers, he claimed he was told by an Unbound editor that his supporters would not be getting refunds and that the administrators would be in touch with further information. “I still get angry emails and comments online from backers who are demanding to know from me what’s going on,” he said.
>Meanwhile, one other author who has had their book dropped described the process of trying to get clarity on their situation as a “huge admin task”, and said that trying to get answers has been “very, very hard”. They described being sent a 26-page administration letter, which they said would “need a lawyer to even understand”.
>The author said a particularly difficult aspect of the process has been talking to their “disappointed supporters” and not being able to give them any information on whether they will be getting their money back. “When – and if – I do get the basic information and I find out that my supporters will not be refunded, and it looks like this might be the case, releasing the book somewhere else would be extremely hard,” they said. “My core audience would be asked to pay twice for the same, extremely delayed, book. Never mind the years of unpaid work I’ve done.”
>The publisher has not answered questions about the money that was crowdfunded, despite The Bookseller’s repeated attempts to gain clarity on the situation.
>When The Bookseller reached out to the publisher to specifically address the issue of refunds for the supporters of unpublished books, Sharma and Mitchinson said: “As we have made clear previously, all authors, including those who reverted their rights, will be paid what they were owed by Unbound, by Boundless.
>“Most of Unbound’s crowdfunded books will be published and pledges fulfilled by Boundless. A very small number weren’t transferred. What happens to them and the customers who pledged for them is a matter for the administrators and we are not able to comment on their process.”
>The statement added that the administrators have duties around reporting requirements and conduct reports, and that the “circumstances of Unbound’s failure should not be dissected in public outside their investigations” before their report is published. They are set to send a first report to creditors in mid-May and statutory directors’ conduct reports to The Insolvency Service.