News for Authors

Penguin Random House Announces Extended Payment Plan for Independent Bookstores

by The Author Newsletter Team|April, 2021

Effective May 1, 2021, independent bookstores in the United States will receive an additional month to pay their Penguin Random House invoices. This extended payment plan will become effective with all titles in the May invoice cycle, including initial orders for May titles and reorders placed during the May billing cycle.

“We have been listening carefully to what kinds of support will be most helpful to indies in 2021, especially those who have been struggling during the pandemic,” said Jaci Updike, president, sales, Penguin Random House U.S., “and what we hear most consistently is that small businesses need flexibility, and the ability to manage their invoices and split payments in different ways during times of uncertain cash flow.”

The extended payment plan will cover all titles that appear on Penguin Random House invoices, including those from DK and Penguin Random House Publisher Services.

“In our conversations with publishers, ABA has been stressing the importance of helping booksellers with cash flow,” said Allison Hill, chief executive officer of the American Booksellers Association. “We appreciate that Penguin Random House is listening and responding with a payment plan that supports all independent bookstores.”

“We believe there is no one-size-fits-all cookie-cutter approach for independent bookstores,” continued Updike. “Different stores have different needs, and this new plan provides indies with the time and opportunity to design a monthly schedule that works best for them.”

Independent booksellers can contact their Penguin Random House credit representative for additional information.