Posted in: Comics, Current News | Tagged: bankruptcy, diamond, udon

Udon & Manga Classics Latest To Quit Diamond, Cancel All Shop Orders

Udon and Manga Classics are the latest to quit Diamond Comic Distributors and cancel all shop orders

Udon Entertainment and Manga Classics have told comic book retailers that they are to halt all shipments to Diamond Comic Distributors until further notice, and that any open Diamond orders should be considered as cancelled. This will also impact on the timeliness of releases such as Mega Man Timelines. In a statement, Udon says;

"UDON Entertainment and its sister-company Manga Classics Inc. announce today that they have halted all shipments of product to Diamond Comic Distributors, until further notice. Any retailers with outstanding orders for new, upcoming, or even existing products should consider those orders cancelled. UDON and Manga Classics ask Retailers and Vendors to seek alternate sources (listed below) to obtain their wide variety of comic books, graphic novels, manga, art books, and other materials.

"With the current state of uncertainty and lack of communication from the new owners to both retailers as well as many publishers, we have to do what is best to serve our customers," said UDON Chief of Operations Erik Ko. "We realize this is a deep inconvenience for many retailers, but we're trying to do our best to serve our partners and fans, while minimizing risk and moving forward in an uncertain time."

"UDON Entertainment is well known for their line of Capcom licensed original comics based on Street Fighter, Darkstalkers, and Mega Man, and for manga and artbooks based on top game and anime properties including Elden Ring, Persona, Neon Genesis Evangelion, and more. Manga Classics is the premier publisher of manga adaptations of classic novels, featuring authors from Jane Austen to Charles Dickens to William Shakespeare. Their newest title features Sir Arthur Conan Doyle's Sherlock Holmes.

"For "Direct Market" retailers (i.e. Comic Shops):All Diamond Comics Distribution pre-orders for previously solicited titles releasing in May-August 2025 can be ordered instead through Lunar Distribution.

"One key title affected will be the forthcoming Mega Man Timelines #1, which will receive a new release date of June 25, 2025. 20% of UDON's initial orders on the title came from Diamond Comics accounts. To cover new orders from any former Diamond customers switching over to Lunar, UDON will be producing a 25% overprint on all direct market editions of Mega Man Timelines #1 (ordering info below).

Also to retailers, please update your distribution information. For comic book products, retailers can find UDON's monthly comics offered through Lunar and Universal (in future). For Graphic Novels, Manga, Art books, and Manga Classics titles, please order through our new distribution partner Simon and Schuster.

A message to UDON's Fans: We're sorry for all of the uncertainty and stress that the ongoing Diamond bankruptcy situation is causing you! We hope to continue to make our comics and books available to you with little-to-no interruption. The best thing you can do is remind your local comic shop that you want our comics, and that they are available through Lunar Distribution and Simon & Schuster!UDON Chief Erik Ko and the entire team would like to thank all of their fans and retail partners for their continued support.

You can use these Diamond, Ad Populum, Penguin Random House and bankruptcy tags to keep up with the latest on Bleeding Cool. Here's a timeline if you want to catch up…

• On the announcement of Chapter 11 on the 14th of January, Diamond started a 13-week bankruptcy process run by financial firm Raymond James, got financing to operate, and announced an auction for its assets.
• Those assets included Diamond Comic Distribution, Alliance Gaming Distribution, Diamond Select Toys, CGA and Diamond UK
• Universal Distribution was named the Stalking Horse bidder for Alliance Games and Diamond UK, which required a purchase commitment of thirty-nine million dollars, but with certain discounts and privileges for taking that position.
• The auction took place, and it went late. There was food and breakfast billed for.
• And Alliance Entertainment, or AENT, was named the top bidder for the assets of $72,245,000, though not for Diamond UK. This was widely announced, including by Diamond themselves.
• Then we learned that a joint bid by Universal Distribution and Ad Populum came second and was named the back-up bid, with a bid of $69,130,000. With Universal getting Alliance and Diamond UK, and Ad Populum getting Diamond Comics, Diamond Select Toys and everything else. Basic Fun was third with fifty million.
• A court hearing with the Honorable Judge Rice in Courtroom 9-D at the United States Bankruptcy Court for the District of Maryland at 10 am was intended to ensure the legality of the bid and the process.
• But instead, over that weekend, the debtors declared that they had chosen the back-up bid from Universal and Ad Populum instead of AENT, despite AENT having bid more. No reason was given.
• AENT filed a lawsuit regarding this decision.
• It took the bankruptcy court to reverse that decision and state that AENT, with the higher bid, had won, though they would have to withdraw their lawsuit.
• AENT has terminated their winning bid and purchase.
• Universal Distribution and Ad Populum were back in the running
• Diamond declared "business as usual" but the courts threatened Chapter 7 over late paperwork.
• AENT sued Diamond, claiming fraud
• Diamond says it's all in hand and went back to court, wanting to be owned by Universal and Ad Populum.
• Sale of Diamond to Universal and Ad Populum was approved by the courts.
• Though Ad Populum paid more than we thought.
• Podcast blamed/credited with the current state of affairs
• Diamond tells Skyrush to stop claiming they won CGA.
• As part of court filings, Diamond released details for every comic store on account.
• We have some finality.
• Ad Populum and Universal Distribution officially acquire Diamond and related assets.
• The layoffs have begun.
• And continue.
• Diamond Select Toys has closed
• Diamond try and reassure retailers over ComicSuite
• Courts withdraw Chapter 7 bankruptcy threat
• We look at the future of Diamond Previews again
• PRH pulls out of Diamond entirely
• Well, not entirely, the UK can stay.
• Hermes Press says Diamond doesn't want to distribute their comics anymore… or anyone's.
• But Diamond pushes back on that, as they publish a new Previews.
• And they assure comic book stores that everything is going to be fine. Honest.
• Then send a letter to publishers which looks like it isn't
• Now they are looking for more money and longer to pay it back.
• Dynamite would like half a million now, please.

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