Good Enterprises Ltd., whose holdings include the cookbook publisher Good Books, filed voluntary Chapter 7 bankruptcy on December 10, and is preparing to liquidate the company. In its filing in the U.S. Bankruptcy Court for the Eastern District of Pennsylvania, the company listed assets of $10 million to $50 million, and liabilities between $1 million to $10 million. The company said it expected to have some funds available to pay unsecured creditors; the number of estimated creditors was put between 200 and 999.
In addition to Good Books, which has a listed centered on Phyllis Good’s Fix-It-and Forget-It cookbook line, the company operated a number of other small businesses. President Merle Good told Lancaster Online that is was declining book sales that led to the decision to liquidate. Lancaster Online said that all 35 Good Books employees were laid off Friday and its office is now closed. Good added that it is likely the publishing assets will be sold off.