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Diamond Comic Distributors Files For Bankruptcy

Writer's picture: Robert MarrujoRobert Marrujo

The end of an era in the comic book industry.


If you've ever shopped at a comic book store, then you've likely purchased a product that was shipped there by Diamond Comic Distributors. Diamond, despite being a huge presence in the industry for the past 43 years, has consistently been a thorn in the side of many retailers owing to various quibbles, both small and large. In recent years, Diamond has seen a number of disruptions to its business, both from the decline of the comic book business as a whole, as well as new competition in the form of Lunar Distribution.


It seems that things have reached something of a low for Diamond, as the company has just announced that it will be filing for Chapter 11 bankruptcy. The company's hope is to restructure and stabilize operations. Here's a bit more from Chuck Parker, President of Diamond Comic Distributors, who wrote the following to comic book retailers:

Dear Valued Customer, I'm writing to share one of the most challenging messages of my career. Earlier today, Diamond made the difficult but necessary decision to file for Chapter 11 bankruptcy. This step is intended to stabilize our financial foundation and protect the most vital aspects of our business. This decision was not made lightly, and I understand that this news may be as difficult to hear as it is for me to share. The Diamond leadership team and I have worked tirelessly to avoid this outcome but the financial challenges we face have left us with no other viable option. Chapter 11 will provide us with the opportunity to restructure and address our financial obligations. This process will likely include the sale of key assets of Diamond Comic Distributors. We have already received a commitment from Universal Distribution to purchase Alliance Game Distributors coupled with a signed Letter of Intent to purchase Diamond UK, and we remain committed to pursuing offers for all Diamond lines of business. What does this mean for you? I want to reassure you that, with secured financing in place to support our operations, Diamond Comic Distributors is committed to continuing business as usual throughout this process. Our plan is to continue fulfilling orders in a complete and timely fashion and we are working hard to minimize any disruptions to your orders. We will be as transparent as possible during this process and will keep you informed of significant developments. If you have any questions, please reference the Retailer FAQs below, also available on our Retailer FAQs page on the Retailer Services Website. With further inquiries, as always, you can submit a ticket via our online Retailer Support Center or contact us at customersupport@diamondcomics.com. Thank you for your support. We are committed to your business and ensuring that your needs are met as we navigate this process.

Along with the bankruptcy filing, other changes will be coming to the company. Diamond UK and the company's games wing, Alliance Games Distribution, will be sold to Canadian comics distributor Universal Distribution. While this doesn't mean that Diamond is going away, nor that any orders connected to Diamond are being canceled, it does mean that serious change is afoot for the company and its future is presently uncertain.

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