Snowbooks had more of the story and then this in Publishing News:
HARPERCOLLINS AND RANDOM House were this week vying to acquire selected author and book assets of publishing house The Friday Project which is expected to go into liquidation at a creditors meeting on 31 March.
Panos Eliades, of insolvency firm Panos Eliades Franklin, told PN on Wednesday: “We have been negotiating with HarperCollins over which authors they want to take over, and today Random House have made contact and they are now also competing for certain authors. We are happy to dispose of the assets on a piecemeal basis, but we are not approaching any other publishers at this stage.”
This sounds so unpleasant for everyone, most unfortunate!