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Comics Distributor Diamond Is Filing For Bankruptcy

Diamond, the world's biggest English language comics distributor, is filing for bankruptcy and scaling its business back in order to survive. The Verge reports: In a letter sent to comics retailers and publishers today, Diamond president Chuck Parker announced that the company has filed for Chapter...

The Verge reports: In a letter sent to comics retailers and publishers today, Diamond president Chuck Parker announced that the company has filed for Chapter 11 Bankruptcy and plans to sell off its Alliance Game Distributors arm to Universal in order to "protect the most vital aspects of our business." Founded in 1982 by Stephen A. Geppi (who still serves as CEO), Diamond became a heavyweight in the comics business by securing a number of exclusive distribution agreements with various publishing houses like DC, Marvel, and Image. "The Diamond leadership team and I have worked tirelessly to avoid this outcome but the financial challenges we face have left us with no other viable option."

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