Diamond Comic Distributors, Inc. has recently sent an email to retailers that they will be filing for bankruptcy. President Chuck Parker revealed Diamond filed for Chapter 11. In the letter, which you can read in full below, Parker states they were filing Chapter 11 bankruptcy to “protect the most vital aspects of our business.”
The letter details parts of the company that have been sold already, including Alliance Game Distributors to Universal Distribution, as well as key assets of Diamond Comic Distributors.
This doesn’t mean Diamond Comic Distributors, Inc. will stop business, as the letter details this is a financial move to ensure they can continue operations.
This news shouldn’t come as a huge surprise. Since the pandemic, Diamond has seen many setbacks, including DC Comics cutting ties with the company in June 2020, as well as publishers like Image Comics signing exclusive deals with companies like Lunar.
You can read the letter in full below.
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