The company changed names and was sold in a stock restructuring. They took the money from community backers, refuse to deliver the books to them. Now they claim they have no responsibility to pay author's royalties for books already sold, they also don't have money to deliver or ship books. Half the people who work there quit. It's 238 authors who are collectively owed more than £650,000.

Link is one YouTuber's account of the situation from the POV of an author.

Here's a news article about the situation: “If I wasn’t so f*cking angry, I’d laugh”: Boundless delays author payments

And another: After Unbound’s Collapse, Boundless Faces Uphill Battle to Rebuild Trust

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[–] dustyData@lemmy.world 6 points 1 month ago

That's only the listed creditors on the earnings side (authors, banks and customers), they also owe another million and a half to providers (shipping, printing, etc.). They owe over £3.4 million total.