Faxon Library Services, which provided journal and magazine subscriptions to libraries at UW-Madison and other campuses in the UW System, folded recently, causing its clients to incur financial loss. Although several UW System campuses' libraries in the UW System will be significantly affected by the bankruptcy of Faxon Library Services, the effects felt at UW-Madison will be minimal.
\UW-Madison will not be significantly affected by the bankruptcy,"" said Kenneth Frazier, director of the general library system at UW-Madison.
The university's Primate Center Library and the Department of Surgery Library, which are both departmental libraries, are the only two on the UW-Madison campus that will incur financial loss as a result of the bankruptcy. These libraries held $61,378 worth of subscriptions.
""We are working closely with [the affected libraries] because they have unique journal resources that we need to protect,"" Frazier said.
Around the UW System, six major campus libraries will lose money as a result of the firm's bankruptcy. UW-Eau Claire, UW-Green Bay, UW-Stevens Point and UW-Whitewater will incur the most significant losses. Those campus libraries will lose $325,000, $191,862, $321,720 and $314,640, respectively.
The UW-Madison Library System switched the subscriptions of its major libraries to another provider five years ago, sparing them from the six-digit losses felt by other campuses in the UW System, according to Frazier.
