SO, WHAT'S GOING ON WITH COMIC BOOKS?

Let the mad scramble begin. The mighty Diamond Comics Distributors has recently announced bankruptcy after disclosing they're in over their heads with more than $30 million dollars in debt.

Yes, you read that dollar figure right. The comic book distribution juggernaut owes a heart-stopping $31,745,394.39, and this is only to the top 30 companies on the list. There's speculation that when the multitude of smaller publishers are factored in, the amount may double. How these idiots got up to their eyeballs in hock smacks of financial overreach, mismanagement and corruption, if you ask me. Unfortunately, large companies going bankrupt is fast-becoming the new normal.

There are, and have been options for retailers in the form of Penguin Books and Lunar, but it looks like the convenience of ordering most of their stock from one source may be in jeopardy some time in the future. Even if Diamond gets it's shit together, it's going to have a tough time winning back loyal customers after they've fled in panic to other distribution sources. One significant example is Image Comics who have already bailed from Diamond to Lunar.

Is this good for the industry? Initially, it sounds terrible, but a re-organization of how comic books and related collectibles are distributed may not end up being a bad thing after all. It's good to shake the corporate tree every so often and see what kind of rotten fruit falls. In this case, it sounds like the entire tree was decaying from the inside out.

Personally, I don't have that much invested in the goings-on as I have long stopped buying comics regularly. However, they still remain near and dear to me and I believe they are still a viable and important American pop culture institution and one we definitely don't want to lose.

More opinion from the Abnormal Brain HERE.

As of this writing, this just in:

Press release from Diamond Comics Distributors

Diamond Receives Court Approval for $41 Million in Debtor-in-Possession Financing

January 20, 2025

Funding Allows the Company to Pay Vendors, Continue Normal Operations

HUNT VALLEY, Md. – January 16, 2025 – Diamond Comic Distributors (“Diamond” or “the Company”), today announced that the United States Bankruptcy Court for the District of Maryland (“the Court”) has approved Diamond’s $41 million debtor-in-possession (“DIP”) financing agreement with JP Morgan Chase.

DIP financing is a typical form of financing used by businesses that are restructuring through a Chapter 11 process. It will be used to fund operating expenses and provide adequate working capital to meet its obligations to suppliers.

“We are pleased that the court has approved our DIP financing agreement. This Court-approved relief is a critical step for the company, ensuring we can pay our vendors and provide product to retailers,” said President Chuck Parker.

In case you're wondering, here's the list of the Top 30:

1. Penguin Random House LLC $9,202,181.45
2. Bandai Co, Ltd $4,348,743.08
3. National Entertainment Collectibles $2,682,994.22
4. Kin Kin Mould $1,811,934.04
5. TMP International, Inc $1,734,814.39
6. Disney Consumer Products, Inc $1,712,447
7. Hasbro, Inc $1,064,378.39
8. Wizards of the Coast LLC $914,601.84
9. Xceeding Partnership Solutions $843,496.70
10. Little Buddy LLC $694,628
11. Simon & Schuster, Inc $600,144.80
12. Bandai Namco Toys & Collectibles $576,072.46
13. Lunar Distribution $496,967.84
14. United Parcel Service, Inc $476,398.57
15. VIZ Media, LLC $421,204.93
16. Catalyst Games Lab, LLC $401,483.12
17. The Army Painter Ap S $386,925.86
18. ARA, Inc $378,827.04
19. Titan Publishing Group Ltd $357,417.28
20. Square Enix Holdings Co, Ltd $314,295.51
21. Microsoft Corp $307,816.00
22. The Pokemon Company International, Inc $280,375.00
23. Transcontinental Inc $243,541.48
24. Beast Kingdom Co, Ltd $237,903.14
25. Funko, LLC $237,631.62
26. Publisher Services, Inc $223,140.92
27. Dynamic Forces, Inc $217,317.64
28. Pai Technology Inc $211,331.50
29. Udon Entertainment Inc $202,694.07
30. Super7, Inc $163,686.50