Diamond Comic Distributors Files for Chapter 11 Bankruptcy

The longtime comics industry leader plans to restructure and sell key divisions as it faces significant financial challenges.

Diamond Comic Distributors has filed for Chapter 11 bankruptcy to reorganize its debt and stabilize its business operations.
The company plans to sell its Alliance Game Distributors arm and its UK division to Universal Distribution, which has submitted a $39 million stalking horse bid for Alliance Games.
Diamond secured $41 million in debtor-in-possession financing from JP Morgan Chase to fund ongoing operations and meet its obligations to stakeholders.
The bankruptcy follows years of declining market share, exacerbated by the loss of exclusive distribution deals with major publishers like DC, Marvel, and Image since 2020.
Diamond's leadership remains committed to finding buyers for its other business units, including Diamond Book Distributors, Collectible Grading Authority, and Diamond Select Toys.