As a reviewer, I really honor their choices in writers, editors, and cover artists. As a writer, I would be leery of submitting to them because they seem not to have the financial resources/cushion/strategic plan (I don't know which of these, if any, is the key) to keep from having recurrent issues in compensating the people who work for them.
My wish for them is that they would find an angel investor and/or a brilliant strategic entrepreneur to add to their team so that they could support the good work being done on the creative side with reliable compensation.
As you probably know, Night Shade Books has had a difficult time after the demise of Borders. We have reached a point where our current liabilities exceed our assets, and it is clear that, with our current contracts, sales, and financial position, we cannot continue to operate as an independent publisher. If we filed for Chapter 7 bankruptcy, or liquidation, the rights to your books could be entangled in the courts for years as could past or current unpaid royalties or advances. However, we have found an alternative, which will result in authors getting paid everything they are due as well as finding a future home for their books, subject to the terms and conditions stated in this letter.
Provided that a sufficient number of Night Shade authors agree to certain changes to their contracts with Night Shade, Skyhorse Publishing, Inc. and Start Publishing, LLC have agreed to acquire all Night Shade Books assets. To be clear, this is an acquisition of assets, not a purchase of the company as a whole. The revenue received from the sale would go towards paying off the debts of the company. If you sign below, and a sufficient number of other Night Shade authors and other creditors also agree to these terms, you will receive full payment to bring all royalties and overdue advances current.
Here's the boilerplate that NSB has sent their authors. (I got it from an author friend on Facebook who prefers to remain anonymous for the time being.)
I'm told that what's being offered to ex-Night Shade authors, if they accept the new contract with the new publisher, is 10% of net.