NEW YORK—In a move that has shaken the already fragile publishing industry, struggling retail giant Fox Books officially filed for Chapter 11 bankruptcy Wednesday, sources confirmed.
is the answer to any question. What should I pack for my summer vacation? Leave the gun, take the cannoli. What day of the week is it? Monday, Tuesday, Thursday, Wednesday. So what we have to do here is go to the mattresses.”While Fox remains resilient, those familiar with the publishing world said it would be difficult for Fox Books to make a comeback, and told reporters that the recent failure of the company’s e-reader, The FoxTale, was a death knell for the business.
Digital publishers and online retailers don’t see the tide turning in Navasky’s direction either, saying that the days of physical bookstores are numbered. When asked to comment about his role in forcing Fox Books into bankruptcy, Amazon CEO Jeff Bezos called Joe Fox a friend but said, “It’s not personal, it’s business.”
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