After SVT's investigation: Yet another hybrid publishing company in bankruptcy
The Swedish hybrid publishing house Ekström & Garay declared bankruptcy following negative attention from investigations into its practices.
Ekström & Garay, a hybrid publishing company founded in Lund in 2019, quickly rose to prominence in Sweden's publishing landscape but has faced increasing scrutiny over the years. The company came under fire for hosting questionable short story competitions, where winners were required to pay for the recording of their works. This negative press was exacerbated by SVT Kulturnyheterna's investigation, which highlighted their partnership with the credit company Lendo, offering aspiring authors risky personal loans to finance their own book publications. Such practices call into question the ethics of hybrid publishing and its impact on authors.
The investigation further revealed a kickback arrangement with Lendo, allowing Ekström & Garay to profit from bringing new borrowers to the credit company. Former employees of the publishing house painted a stark picture of its business model, stating that nearly all manuscripts submitted for publication were accepted unless they posed legal issues. This unethical approach raises concerns about the quality of literature being published and the financial risks imposed on new authors chasing their dreams.
As the bankruptcy of Ekström & Garay unfolds, it sheds light on the broader issues within the hybrid publishing industry in Sweden, especially regarding its business practices and the treatment of emerging writers. The situation serves as a warning to aspiring authors about the dangers of engaging with such companies, highlighting the need for greater scrutiny and regulation in the industry to protect writers and maintain literary integrity.