Diamond Comic Distributors Files Voluntary Petition for Relief Under Chapter 11

By Jay Cochran on 2025-01-14 in Comics & Books
Diamond Comic Distributors (“Diamond” or “the Company”), today announced that it has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Maryland to facilitate the restructuring of its business. As part of the restructuring process, Diamond has received a $39 million stalking horse bid from an affiliate of Universal Distribution (“Universal”) for Alliance Game Distributors.

The Company has received commitments for up to $41 million in debtor-in-possession (DIP) financing from JP Morgan Chase that will be used to fund post-petition operating expenses and ensure adequate working capital to meet its obligations to associates and suppliers.

In addition to securing DIP financing, and a stalking horse bid for Alliance Game Distributors, Diamond has received strong interest in its specialized business divisions, having also entered into a Non-Binding Letter of Intent (LOI) with Universal to acquire Diamond UK. Diamond is actively pursuing offers for, and has received interest from potential purchasers for, its other business units, including Diamond Book Distributors, Collectible Grading Authority, and Diamond Select Toys, as well as its main comic, toy, and collectible distribution lines.

“Diamond has been a linchpin of the comic book industry for over four decades. Our priority has always been to provide quality service to publishers, retailers, and, ultimately, comic fans, and we remain committed to finding additional buyers for our businesses,” said President Chuck Parker.

“Universal Distribution is looking forward to working with the Alliance and Diamond UK teams to bring a stronger balance sheet and growth opportunities to retailers and suppliers. Both companies have deep roots in the industry, and we look forward to continuing that into the future,” said Angelo Exarhakos, President and CEO of Universal.

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Comments...

Last 10 comments - ( Read All Posts )
ucsf - 2025-05-19 @ 8:57 pm

All my thoughts are with the ex-employees now. I can't really think of the figures or merch as of now.

Satam - 2025-05-19 @ 5:11 pm
3 hours ago, Scifantasy said:

Bummer , no trek ships or vehicles for sure now.

Maybe Nacelle will move in and take DST's place.

Scifantasy - 2025-05-19 @ 1:33 pm

Bummer , no trek ships or vehicles for sure now.

deecee4 - 2025-05-19 @ 11:45 am
7 hours ago, JayC said:

So Zach Oat who you may know from DST has confirmed on his linkdin account that he has been laid off.

Also IDK how or if this will have any baring, but it should be noted that one of the two entities,Ad Populum who purchased the Diamond assets also owns NECA Toys.

As far as Zach, who was pretty much the face of the company engaging with collectors, maybe Neca can hire him on in a similar role since it doesnt seem like Randy Falk does that type of stuff anymore in recent years.

Was Clayburn Moore still working for Diamond? Hes the only other name I know who worked there.

JayC - 2025-05-19 @ 3:53 am

So Zach Oat who you may know from DST has confirmed on his linkdin account that he has been laid off.

Also IDK how or if this will have any baring, but it should be noted that one of the two entities,Ad Populum who purchased the Diamond assets also owns NECA Toys.

Admiralty_Entertainment - 2025-05-18 @ 8:56 pm

Say what you will about Diamond itself, DST really made some great stuff over the years and it's terrible to lose another source of cool merch. Lots of love and support to the talented and hard-working staff affected by this, fingers crossed they get snapped up by other companies really quickly.

Scattergorical - 2025-05-18 @ 7:39 pm

The only guy I knew about that worked with DST was former 4 Horseman Chris Dahlberg. He's a great artist and I dearly hope he is able to get his work out there in other lines.

deecee4 - 2025-05-18 @ 4:25 pm

Oh man, terrible news.

Edit:also i know a lot of people didnt care for what they made but just wanted to shoutout my personal greatest hits:

-Black Hole figures, Maximillian having an alternate head with Reinhart inside was just sick!

-Tron Tomy homage set, my ideal versions of their 7 inch Tron figures.

-Marvel Select Juggernaut, Colossus, Silver Centurion, Crimson Dynamo, Titanium Man and Immortal Hulk.

JayC - 2025-05-18 @ 4:17 pm

And yes as always with this type of news we can hope anyone laid off will end up landing on their feet and be able to embrace new opportunities.

JayC - 2025-05-18 @ 4:07 pm

I have confirmed with some retailers who have been told DST is in fact shutting down. Its still unclear what will happen with open pre-orders but general thought is they will be canceled.

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