Photobook Publisher Steidl in Dire Straits After Threat of Bankruptcy
Steidl Verlag, the German publisher founded by Gerhard Steidl in 1968 and known for photobooks by artists including Nan Goldin, Gordon Parks, Walker Evans, and Joseph Beuys, faced a threat of bankruptcy after insolvency proceedings were opened over alleged unpaid wages and missing social security contributions. Der Spiegel reported that some employees said they had not been paid for up to six months and that, as of the July 10 insolvency filing, the company had not paid a five-figure sum in wages; the collecting agency Minijob-Zentrale initiated proceedings after Steidl allegedly withheld social security contributions. The court proceedings were closed on Thursday, July 23, after the company settled its claims, according to NDR, though the publisher has not responded to Hyperallergic’s requests for comment. NDR also reported that the Günter and Ute Grass Foundation reclaimed rights to works by Günter Grass after repeated payment defaults, while Steidl attributed the company’s financial distress to US tariffs and a 50% drop in international sales and said 12 potential investors had contacted the firm (including four from Switzerland and three from the US).
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This story was covered in Bias Warnings, Billion-Dollar Openings, and Museum Heists