Established in 2011, UK-based crowdfunded publisher Unbound styled itself the Kickstarter for books and was widely heralded as the next big idea in publishing. Heady words like "disruption" and "paradigm" were tossed around, and the company's launch garnered substantial positive media coverage. (This blog post from Nail Your Novel provides an overview of how it all worked).
To all appearances, Unbound had a good run, publishing hundreds of books over more than a decade, gaining both critical and sales success. By some accounts, though, a lot of it was smoke and mirrors, and in 2024 cracks began to show, with authors reporting royalties delayed or unpaid and books unavailable for sale.
In December 2024, Unbound informed its authors that what they suspected was true: it didn't have the money to pay royalties. It claimed to be re-structuring, bringing on a new CEO, Archna Sharma, who promised to stabilize the company. But just three months later, Unbound went into administration--and almost at once was sold, with all its assets, in a pre-pack deal (a kind of bankruptcy deal where the sale of a company is negotiated with a buyer before an administrator is appointed) to a new company called Boundless Publishing, at a fire-sale price of £50,000.






