Searle speaks about demise of Freight Books

Adrian Searle has spoken out for the first time since leaving Freight Books, calling the demise of the publisher a “personal tragedy” but not one which he thinks should “preclude him from future involvement in the publishing industry".

Speaking to The Bookseller about the events leading to the liquidation of Scottish independent publisher Freight Books, which he founded in 2011 and was a director of, Searle said his departure from the company in April was caused by a breakdown in the relationship between him and his business partner Davinder Samrai, co-owner of Freight Design (Scotland) Ltd, the parent of Freight Books. "Freight was a successful company. It was the business partnership that failed," he told The Bookseller.

Searle had declined to speak about the demise of Freight Books until this week, and the facts behind the collapse of Freight Books and its parent are in dispute. Speculation about the company's future erupted after Searle left the business abruptly in April due to “irreconcilable differences over strategic direction”.

Searle now claims that he had been trying to buy the business from its parent company Freight Design (Scotland) Ltd in the months before his departure. "If Freight Books was poor health, why would I spend five months trying to buy the business from my partner?" In June Freight did announce that it was "exploring the opportunity" to sell off the company, following an "unsolicited" request to buy the publisher, and the business was advertised on the Publishing Scotland in order to seek out an alternative “investor or buyer”.

However, Samrai refutes Searle's claim he tried to buy Freight Books before or after he left the company in April. 

He said: "It has been established that Freight Books got into financial difficulties, long before Adrian’s abrupt exit —a part of the business with which I had no operational or decision-making involvement. Adrian's statement regarding trying to buy the business makes little sense given the publishing arm was advertised for sale, as a going concern, within single weeks of his departure. Whilst there was lots of initial interest in Freight Books, that interest waned when due diligence highlighted the liabilities ascribed to it."

Samrai suggested that if Freight Books was performing well, Searle would have made a formal offer to the Company or latterly WRI Associates to buy it, but he did not. 

The business, including parent company Freight Design (Scotland) Ltd, was put under the control of a provisional liquidator in October, leaving many Freight authors left unpaid. The company's creditors are expected to meet on 20th December, but any money available will first of all be used to pay the cost of the liquidation. As there are no secured creditors, if there is money available after the losts of liquidation are paid, this money will be used to meet unpaid wages and holiday pay for employees. If anything else remains after that, it will be split amongst the remaining creditors, which will include authors, suppliers and printers.

Searle said he "understands" and "shares" the anger authors are feeling about the situation and is "appalled" that writers have not been paid.

"I understand the hurt and anger felt by former Freight writers and feel a great deal of sympathy for those employees of Freight who were recently made redundant," he said. "The demise of Freight, a business I dedicated 16 years of my life to, is a personal tragedy."

Last week, it was revealed that Searle had set up a new press called Wild Harbour Books which published its first title in November.

He told The Herald: "Considering the facts surrounding my departure from Freight, I don’t believe I should be precluded from current or future involvement in the publishing industry."