Barnes & Noble is having cash flow issues

This content has been archived. It may no longer be accurate or relevant.

From Smashwords Site Updates:

April 20, 2020 – Barnes & Noble is having cash flow issues due to Covid-19, and delaying payments to suppliers.  This means that this month’s round of payments, which we are processing today, will *not* include February sales at Barnes & Noble.  Per our Terms of Service, we pay our authors and publishers based on what the retailers pay us.  Other Smashwords retailers and library partners are current with their obligations, which means this only affects your B&N portion of accrued earnings.  In the next couple days I’ll send an email update to all Smashwords authors and publishers because not everyone follows these Site Updates.  Stay tuned, and stay safe! 

April 21, 2020 – Bibliotheca, one of our smallest library partners, today informed us that all their publishing partners will be placed on net 60 day terms rather than the current net 30.  Although the impact to Smashwords authors is unlikely to be felt (Bibliotheca doesn’t sell much), I consider such payment delays as not cool.  On the heels of Barnes & Noble, we’re now looking at two sales outlets that intend to string out author and publisher payments while they continue to collect money from customers.  Here at Smashwords, we consider it our sacred duty to pay you for your sales, and to pay you quickly.  If you sell a book on the last day of this month, we’ll be paying you for it in less than a month.  It’s your money not ours.

Link to the rest at Smashwords Site Updates