Publishers Hachette Book Group, HarperCollins, Random House, and Simon & Schuster have sued Anderson News in federal bankruptcy court, trying to recover the total of $37.5 million the companies say they are owed by the distributor.

Founded in 1917, Anderson News sells "magazines,
books, comics, maps, collectibles and more" to 40,000 retail outlets around the country.

Here's more from Reuters: "Under U.S. law, creditors may begin an involuntary bankruptcy proceeding to force a debtor to confront the debts they are owed. The alleged debtor has about 20 days to object to the filing. A phone number for the Knoxville, Tennessee-based company has been disconnected." (Via Dear Author)