Publishers Weekly daily has the latest on the AMS bankruptcy:
The bankruptcy court overseeing Advanced Marketing Services reorganization efforts yesterday approved its request to receive $75 million in debtor-in-possession financing. The funding is enough to operate for the next six months.
The wholesaler also received some good news when Costco said publishers that supply books to AMS should continue to do so; AMS is the primary supplier of books to Costco, and its support is crucial to the company’s turnaround efforts. A Costco spokesperson said that until further notice, publishers should operate “on a business as usual basis.” Costco, the spokesperson added, is monitoring events “on a day-to-day basis.” Most of the larger publishers that supply AMS indicated they will continue to do so, but on a COD basis.