My debut was published in 2020 by a small press. The publisher just announced they are closing - 30 days notice, all rights and files revert to me.
I currently have an unpublished but polished sequel (same world/characters, dif POV) I've been submitting to both agents and publishers. With this new development, how can(should?) I restructure my query letter and approach?
(A) Should I keep querying book 2 and mention the situation with book 1?
(B) Should I requery book 1 and mention I have book 2 ready and a fan base anxious to read it?
(C) Should I just bite the bullet and self-publish both books 1 and 2?
First, yikesy yikes yikes.
This is very Not-Fun BUT it's also not the end of the world.
It's just a bump on the road, and the thing to do is gear down and hit the accelerator.
Vroom baby vrooooom.
The first thing you're going to do is make sure you have a robust mailing list of friends and fans. Demonstrating that there is a readership for your book/s is going to give your vroom-mobile extra clearance to get over that bump.
It sounds like you have that from question (B). Make SURE you mention it in your query.
Now, let's look at what you've got to sell so to speak: both books.
I assume you've queried book #1 and garnered some passes (idiots all of us, right?)
You do NOT want to requery a book that I've already seen. I'll remember.
That leaves Book #2.
You query Book #2 but you also say you've got Book #1, rights reverted from X Press.
Some publishers will want to publish both books at the same time, OR republish #1 closely followed by Book #2.
There are lots of interesting ways that can be done.
Now, if you want to undertake publishing this yourself, make sure you know what you're getting into.
I can't tell you what your best choice is here.
Only you know what you want to spend your time on.
This might be the time for a very careful analysis of what you want to accomplish, and the best way to do that.