Bruno Gmunder has filed for bankruptcy protection.

 

For those not familiar with the name, it is a German book publishing company that specializes in gay fiction and non-fiction. Founded in 1981, the Berlin-based  company has over 80 employees and freelancers, and is one of the world’s largest gay media companies. It is perhaps best known for its global gay guide to travel, Spartacus as well as its library of erotic photo books.

 

However, as with many companies in the publishing world, Bruno Gmunder is finding it increasing costly to stay afloat. In January 2012, it started to modernize its offerings, releasing its first digital products such as eBooks and the Spartacus App for the iPhone. Still, sales have continued to decline.

 

"These necessary adjustments for the digital transformation and modernization of the company ... have drawn considerably more resources as originally planned," explained spokesman Dr. David Berger. "Furthermore, the new business models have not been able to compensate the falling turnover of the formerly best selling products."

 

Berger added that banks refused to help with much needed capital, and insolvency seems to be the only option left. He emphasized that "... business will go on as normal. The Brunos stores, Brunos.de mail order, the fiction, non-fiction and photobook department, the Spartacus guide, the Spartacus-Traveler and Männer magazines and other products of the house will continue working as usual."

 

That sounds somewhat optimistic, but we do hope Gmunder pulls through and come out of its restructuring in better shape.