Diamond Comics Restructuring Information
We are restructuring under Chapter 11 to continue supporting our vendors and employees, while serving our customers and the industry. We are committed to keeping stakeholders informed as the process moves forward and will provide ongoing updates on this page.
Thank you for standing with us as we work toward a stronger future.
Important Resources
General FAQ
Why did Diamond Comic Distributors decide to file for Chapter 11?
The unexpected loss of certain exclusive publisher relationships, compounded by an overall contraction in consumer spending, increased inflation, and a loss of margin on key print product lines. After exploring all available options, Diamond determined that filing for Chapter 11 is the best course of action to restructure its operations and secure the most favorable outcome for all stakeholders.
What were the contributing factors in the industry that led to this decision?
Post-pandemic, the comic book industry at large has seen a decrease in consumer activity paired with rising operating costs, and Diamond is no exception. Shrinking margins, growing expenses, and a decline in sales, as well as the desire to achieve the best possible outcome for our vendors, customers, and employees all contributed to this decision.
What is Chapter 11? Does this mean the company is closing?
A Chapter 11 filing is generally an action a company takes to protect its ongoing business while it continues operations. During Chapter 11 proceedings, the company typically reorganizes financially and manages its operations to best meet the claims of those to whom it owes money. Diamond has received a commitment for funding from its lender to ensure it can continue to meet its post-filing liabilities and continue to operate while it goes through this process.
Were other alternatives explored?
A number of alternatives were considered and pursued to address Diamond Comic Distributors’ financial situation.Ultimately, a restructuring pursuant to Chapter 11 was determined to be the best alternative in the circumstances.
How will this affect comic book retailers Diamond Comic Distributors sells to?
Diamond Comic Distributors will continue operating business as usual during this process and is currently in discussions with companies inside and outside of our industries to acquire all or parts of our business. Our goal is to minimize any potential impact on retailers and ensure the continued, uninterrupted flow of products.
How will this affect the publishers Diamond Comic Distributors works with?
Diamond will continue operating business as usual during this process and intends to fulfill orders in a complete and timely manner. In terms of payment, we are undergoing a Chapter 11 process which will determine how and when the company’s pre-petition financial obligations are met. This will be determined by the court, and you will receive more information as decisions are made. Post-filing obligations will be paid in the ordinary course.
How will this affect Outreach and National retailers Diamond Comic Distributors sells to?
Diamond will continue operating business as usual during this process.
How will this affect the non-print merchandise vendors Diamond works with?
Diamond intends to continue fulfilling orders in a complete and timely manner. In terms of payment, we are undergoing a Chapter 11 process which will determine how and when the company’s pre-filing financial obligations are met. This will be determined by the court, and you will receive more information as decisions are made.
How will this affect the retailers Alliance Game Distributors sells to?
Alliance will continue operating business as usual during this process and will ultimately continue operations under new ownership.
How will this affect the vendors Alliance Game Distributors works with?
Alliance will continue operating as usual during this process and will ultimately continue operations under new ownership
How will this affect the book retailers Diamond Book Distributors sells to?
Diamond Book Distributors intends to operate business as usual during this process. Diamond Comic Distributors is currently in discussions with companies inside and outside of our industries to acquire all or parts of our business. Our goal is to minimize any potential impact on retailers and ensure the continued, uninterrupted flow of products.
How will this affect the manga and graphic novel publishers Diamond Book Distributors works with?
We are operating on a business-as-usual basis distributing manga and graphic novels to our customers. It remains our expectation to fulfill orders in a complete and timely manner as we undertake the Chapter 11 process.
How will this affect vendors using Fulfillment Services?
Fulfillment Service vendors should not be affected by the filing.
