Just recently I had a publishing contract for my first book, the first in a series of two. I say just recently, because yesterday we (the writers) received word that the publishing company was "restructuring", and it was going to gear toward "creating our own imprint" or help getting a different publisher.
In my contract, I was offered an advance. In a separate message, I was told that due to financial difficulties, the advance couldn't be honored, only given as credit toward the start-up costs of my own imprint.
Being broke, many of the obvious options are out of reach (legal action, etc.). My only desire in this is to get picked up by another publisher; I'm just unclear about what is meant by my publisher's "assistance" in getting another publisher. And I've had a miserable time writing query letters for this series. I've tried, believe me.
So, any thoughts? Ideas?