In a move to restructure and improve the company's capital base, Harrison House Publishers has announced that it has filed a voluntary Chapter 11 petition in the U.S. Bankruptcy Court of Northern Oklahoma.

Normal business operations will continue during the reorganization process, company officials said. Based in Tulsa, Okla., Harrison House was founded in 1975, since publishing and distributing more than 100 million charismatic-themed books in 42 languages and in more than 175 countries.

"Recent developments will go a long way towards enabling us to provide our authors, customers and vendors with the service and support they have come to expect and appreciate from their publisher and business partner," Harrison House Chief Executive Officer Keith Provance said. "Operationally, we are also making great progress. … While the book publishing market continues to be challenging, we continue to be category leaders in the markets we serve.

"Through this process, we will improve our capital structure and align it with the size of our current business operations," Provance continued. "We have great strength in our products and we believe that this restructuring will allow us to unlock the underlying value of our business and achieve our true growth potential."

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