Offering generous terms to authors and publishing 25 books a week, promoting them magificently via email and through the Amazon Kindle Store (the T.rex of the ebook business), Endeavour Press seemed to have it made.

They have a short but pithy write-up on Wikipedia which is valuable for its links, all which I recommend as essential reading for anyone interested in the digital book business.

But today if you go to their website you will see a scary notice from the liquidators, Smith & Williamson LLP.

So what went wrong?

Reading the notice carefully makes it clear that Endeavour did not simply go bust, but went into voluntary liquidation – which is often a tactical manoeuvre. The liquidators assert they will pay all royalties due, and the old staff (most of them) are carrying on business as usual with a new website.

It all slightly reminds me of when Rolls Royce Ltd went into voluntary liquidation in 1971 – and briefly became one of the biggest creditors on the UK stock market.