Feldheim Israel Declares Bankruptcy

The Israeli branch of Feldheim Publishing – a long-time powerhouse in the world of Orthodox literature – is attempting to suspend legal proceedings against the company, despite the publisher’s financial difficulties and declaration of bankruptcy.

Feldheim Publishing Facing Serious Financial Troubles
Sholom Schreiber • Jewish Voice

The Israeli branch of Feldheim Publishing – a long-time powerhouse in the world of Orthodox literature – is attempting to suspend legal proceedings against the company, despite the publisher’s financial difficulties and declaration of bankruptcy.

Founded in New York City in 1939, Feldheim has been a pioneer in producing Torah-based books with professional graphics and other features not previously utilized by Orthodox publishers. According to a source in the publishing industry, the Ohr HaChaim bookstore chain has expressed interest in taking over the struggling publishing house, and has been holding meetings with Feldheim to that effect.

“The only thing that is true is the company is in financial hardship,” commented a representative of Feldheim. “Management is probing possibilities and a decision will be made in the near future.”

While the Feldheim bookstores in Israel are owned by the Feldheim family, they are legally considered a separate business, and would thus not be directly affected by the bankruptcy status of the publishing house. In an official statement, the company’s owner, Yitzchak Feldheim, stated that the current fiscal crisis only applies to the Israeli division of Feldheim Publising. “Our U.S. operation, Philipp Feldheim, Inc., is an independent entity,” the statement continued, “and we will b’ezras Hashem continue publishing and distributing books.”

Comments

[Garnel Ironheart]

This is sad news.

[who knows]

Feldheim is down, Artscroll to go?

[Just Looking]

Tough economy, you would think with the exploding birth rate among the haredim business would grow as well. I must assume there must either be competing publishers eating away at their base or the Chinese have entered the market and are making illegal copies.

[mi yodaia]

Artscroll is funded by rich people. Their books all make money even if they dont sell. Feldheim has also to sell their books.

. Feldheim

[Garnel Ironheart]

Well it's not just that. Remember who they cater to. Artscroll is huge over here in North America but other than their Talmuds they're not much of a presence in the Hebrew speaking market. If someone wants to read a book on Maharal, for example, he doesn't have to rely on Artscroll's digested versions. He can pick up the original quite cheap and peruse it because he already knows the language.
I'm sure Feldheim America is doing fine.

[Ploni]

report is slightly wrong, Ohr Hachaim is almost bankrupt as well