Late yesterday it was revealed AfterShock comics has filed for Chapter 11 bankruptcy. The news comes as somewhat of a surprise, given new film deals are in the works for Party & Prey and The Normals, but there have been some major changes of late that might have hinted at business issues internally. That includes AfterShock Editor-in-Chief Mike Marts leaving the company in October, as well as rumblings from comics creators that the company was having issues paying artists.
It’s being reported the filing was in response to a state court action filed by the lender with a reported $10-50 million in assets along with $10-50 million in liabilities, aka debt. This news doesn’t mean AfterShock is going away just yet, as Chapter 11 typically means the company is reorganizing assets to stay alive.
Again, this news is surprising given the growth of AfterShock in recent years. A little over two years ago, AfterShock and Rive Gauche formed a global distribution company called AfterShock Media. A year later, AfterShock created the YA imprint Seismic Press, further developing new series. In fact, the company never had a month without a comic published or a new series being announced.
As of this writing, AfterShock has not released a statement to the press or via social media.
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