F&W Media

[helbel]

F&W Media in the US have filed for Chapter 11 bankruptcy, F&W Media International own Sew and So. I'm not sure if this will have an effect on the UK side of the business or whether the parent company will find a buyer.

https://www.sewandso.co.uk/whoarefw" target="_blank

But anyway something to be aware of. In my Weaving/Spinning forums there's a lot of concern as they own the two largest Weaving/Spinning magazines through the subsidiary Interweave.

[nettie]

Hopefully they can resolve it I love sew and so!

[Squirrel]

Sewandso is mny 'go to' UK shop so fingers crossed everything can be worked out. thanks for the Heads Up

[vanessanjf]

Oh no. I get most my supplies from sew and so. Hopefully it will be ok.

[Garnet]

Oh no!

I don't understand American bankruptcy law, but I really hope this is for protection while they continue trading.

I still get a lot of my supplies from Sewandso too.

it will all be ok.

[richardandtracy]

It is a concern, but on the positive side, the Chapter 11 banckruptcy rules in the US seem to let companies survive that in the UK would fold, so maybe there is hope for them. A number of US airlines have done similar things in the past and are now still operating (American Airlines and Delta are two I can think of fairly quickly), and the terms of the protection were relatively generous to the point where BA, Virgin and other non US airlines were complaining of unfair competition.

Regards,

Richard.

[rcperryls]

Chapter 11 banckruptcy rules in the US seem to let companies survive that in the UK would fold, so maybe there is hope for them.

Richard is right about the Chapter 11 bankruptcy laws here in the US. I don't know any of the details but it is a fairly common practice. From what I understand it allows a company to work out a specific plan to continue to operate and to work with its creditors to develop an agreement for payment of debt. I think each bankruptcy is an individualized plan and quite a few companies are able to survive and eventually thrive. Mostly I think it is stock holders and employees who suffer the most. I don't know how that effects multinational corporations. Often large corporations will sell or spin off some of their holdings, often because they have stretched themselves way too thin or gone into areas that they don't understand. We here about it in the news fairly regularly, especially now with retail companies struggling against a lot of on line competition.

Carole

[Mabel Figworthy]

Eek! I hope they'll be all right

[helbel]

Likewise Sew and So is my go to shop for cross stitching supplies so I'm also keeping fingers crossed.

[Kuschelschaf]

Believe it or not, Sew and So is a go to for me too, even in the States. I hope they are able to get back to their normal course of business.