(9 October 2014) Following the recent announcement that Swets Subscription Agents requested the court declare a suspension of payments and appoint an administrator, Swets Information Services B.V. bankruptcy has been announced. Please see the message on Swets website: http://www.swets.com/news/swets-information-services-bv-declared-bankrupt.
In light of this, it is essential that you send subscription renewals and payments for SAGE journals via other subscription agents, or directly to SAGE, and not to Swets.
Money received by Swets now will be at risk of going into the bankruptcy and be used to repay bank loans. It is unlikely that any money will remain to pay for subscriptions or be returned to libraries.
SAGE appreciates that Swets Information Services B.V. being declared bankrupt will cause considerable work for libraries who have previously subscribed through Swets. We understand the importance to librarians of continuity of access for their patrons to subscribed content. We will work with you and with other subscription agents you choose to help minimise the impact and to try to ensure your patrons’ continuity of access to SAGE journals where possible. This is also sad news for Swets and their staff who have been good partners to both librarians and publishers over many years.
If you have recently made any payments to Swets for subscription renewals relating to SAGE journals, please contact SAGE’s Customer Services representatives to review the status of these renewals. They can also help with any other renewal queries you may have about individual SAGE journal title renewals or any queries you may have about access to SAGE content.
If you have any questions about renewals of consortial packages relating to SAGE journals, please contact your Consortial Licensing Manager as follows:
If you are in doubt about any contractual arrangements you may have with Swets, we recommend you contact your legal and financial advisors for advice on how to proceed in this exceptional circumstance.
SAGE is committed to working with you to help minimize disruption to you and your patrons during the forthcoming renewal season.
This announcement is published on the SAGE website.
More news about Swets bankruptcy here.