Diamond Comics Distributors filed for Chapter 11 bankruptcy protection today. They also announced that they were selling off pieces of their large company - Alliance Games and Diamond UK were two mentioned today with others likely to happen soon.
What does this mean for the comic book business? Hard to tell for sure. Diamond has been losing pieces of the distribution business for the last five years and right now they're a comparatively minor player in the game. However, when it comes to small press comics Diamond is one of the few viable nationwide distribution options.
Remember that a Chapter 11 filing indicates an intent for the business to continue after a reorganization.
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The books they have in inventory, however many or few, are often "stolen goods" because they haven't paid the publishers. It can't be much since it goes unmentioned in these articles.
Archie Comics has announced a deal with Lunar. But it's not exclusive, so they'll also be distributed by Diamond. And they have some things distributed by Penguin Random House as well. Keeping their bases covered.
Fantagraphics has announced they're pulling out of this year's FCBD.
Another complication.
https://bleedingcool.com/comics/diamond-accused-of-funnelling-bankr...
Good grief. A miilion bucks as bonus while the business fails? Nice deal.
Also, Titan will now be distributed by both Lunar and Diamond.
I don't think they can get away with it. That money should be going to the creditors, especially the small companies..
Latest move: Oni (which distributes through both Diamond and Lunar, and books through Street & Smith) will distribute Magnetic Books. Another small-press indie finds a lifeboat.
Alliance Entertainment Acquires "Major Assets" of Diamond Distributors
Heard about this at my LCS today.
Alliance Chairman on the Diamond Purchase.
I have a suspicion that FCBD as we have known it isn't long for this world.
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