bankruptcy Archives

But after this week's court hearings, Universal Distribution LLC and Ad Populum have officially completed the acquisition of Diamond Comic Distributors and their related assets, such as Alliance Gaming, Diamond Select Toys, Diamond Book Distributors, CGA, and more, after a controversial Chapter 11 bankruptcy process. So, who gets what? As agreed, Canadian comics and games distributor[...]

Earlier today, Bleeding Cool pointed out that tomorrow the finalising of the sale of Diamond Comic Distributors to Ad Populum, and of Alliance Gaming to Universal Distributors, as part of Chapter 11 bankruptcy proceedings, will be finalised And while finalizing that sale on May 14, 2025, is still the plan according to documents filed today,[...]

But tomorrow, the sale of Diamond Comic Distributors to Ad Populum, and Alliance Gaming to Universal Distributors, will be finalised, and the company will begin to exit Chapter 11 bankruptcy and stay far, far from Chapter 7 bankruptcy That is, of course, if nothing goes wrong. Bleeding Cool understands that we are not to expect any[...]

It's a hard life being a bankruptcy lawyer But there are compensations As part of the current Diamond Comic Distributors Chapter 11 bankruptcy proceedings, all lawyers and legal firms have been hired for one part of the proceedings or another Lowenstein Sandler, co-counsel to the Official Committee of Unsecured Creditors, is billing half a million[...]

As part of their filings for Chapter 11 bankruptcy, Diamond Comic Distributors has been filing all manner of procedural forms, reports, contracts and legal statements It also seems that all comic book retailers with a Diamond account have also received them, whether by post or e-mail Which also means that this action has to be[...]

Last week, Bleeding Cool reported court filings in the Chapter 11 bankruptcy proceeding of Diamond Comic Distributors that detailed the purchase by the now-winning bidders, Universal Distribution and Ad Populum/Sparkle Pop That Universal will pay almost $50 million plus or minus a few other factors, and would own Diamond's Alliance Game Distributors, with a separate[...]

During the Chapter 11 Bankruptcy, Skyrush Marketing of New York City and Long Island posted a press release saying that they had been selected as the highest bidder for Collectable Grading Authority (CGA), the Diamond-owned collectables grading business in the Chapter 11 bankruptcy auction for Diamond Comic Distributors. "We have avid collectors on staff who understand[...]

When the Diamond Chapter 11 Bankruptcy auction at Raymond James offices was finalised, the winner was announced as Alliance Entertainment/AENT Bruce Ogilvie, AENT chairman, was then invited onto a podcast with comic book retailers Dennis Barger and Jesse James after, apparently, watching my performance on the Beyond Wednesdays podcast the previous week, talking about the Diamond situation[...]

Diamond Comics has been sold but who gets what? And what about Diamond UK? And don't forget those lawsuits....

Bleeding Cool told you that a new hearing in the Diamond Comic Distributors Chapter 11/Chapter 7 bankruptcy case was taking place in the Baltimore courts today, even if the main issue they were meant to be hearing had changed significantly since it was filed. Reports from the court state that, quite simply, the Baltimore Bankruptcy Court[...]

The Diamond Comic Distributors bankruptcy situation hit the courts again today And while we are waiting to find out what, if anything, happened, here's some reaction from comic book retailers, publishers, creators, collectors, readers, and Diamond employees themselves of events over recent days… You can use these Diamond and bankruptcy tags to keep up with the[...]

Today, Diamond Comic Distributors is back in court, looking at old business with Judge Rice in the Baltimore bankruptcy court, at  10.30am Central time This session was originally meant to look at the Alliance Entertainment (or AENT) purchase of Diamond Comics Of course, since that meeting was arranged, this has changed AENT has pulled out[...]

Yesterday, Bleeding Cool reported on filed paperwork by the Baltimore bankruptcy courts to turn Diamond Comic Distributors' Chapter 11 bankruptcy proceedings trying to rescue the company, to Chapter 7 bankruptcy, liquidating the company's assets and closing it down The hearing is set for a month's time, and the reasons cited are that Diamond Comic Distributors[...]

The US Bankruptcy courts of Baltimore have issued new paperwork for Diamond Comic Distributors to move it from Chapter 11 bankruptcy to Chapter 7 bankruptcy In layman's terms, that means moving from attempting to legally reorganise Diamond Comics to be an ongoing company again to liquidating its assets and closing it down for good. The official[...]

Why did Alliance Entertainment or AENT terminate its agreed and won purchase of Diamond Comic Distributors? Under Chapter 11 bankruptcy, and based on court documents, there are only a few reasons it would be allowed to And Bleeding Cool is going to go through them all and share some of out thoughts on the matter. To[...]

Yesterday, Bleeding Cool ran the news that pop culture distributor Alliance Entertainment or AENT were cancelling their high eight-figure planned purchase of Diamond Comic Distributors, despite winning the Chapter 11 bankruptcy auction and having the courts confirm their right to purchase when Diamond's debtors stated they preferred a lower bidder, Universal Distribution/Ad Populum. Emily Boticas, Vice[...]

Alliance Entertainment or AENT has issued an SEC filing as a Notice Of Termination over their agreement won in Chapter 11 bankruptcy auction to buy  Diamond Comic Distributors. SEC filing screencap The filing states first that"On April 25, 2025, Thomas Finke advised the Board of Directors of Alliance Entertainment Holding Corporation (the "Company") that he is resigning[...]

Earlier today, Bleeding Cool looked at new legal papers being filed by Titan Comics, trying to clarify their relationship with Diamond Comic Distributors in the wake of Chapter 11 bankruptcy, claiming concern for themselves and comic book retailers, as the next round of solicits and orders are due However, as part of the paperwork, we[...]

You might have thought that the Chapter 11 bankruptcy dealings with Diamond Comic Distributors, being acquired by Alliance Entertainment, were all over bar the shouting after the court made its decision But there are some wrinkles yet to be ironed out Titan Comics and Titan Books, together as Titan Publishing, made up the main comic[...]

The Baltimore Chapter 11 Bankruptcy Court has issued an order approving the asset purchase agreement between Diamond Comic Distributors and associated companies, and the high bidder in the bankruptcy auction, Alliance Entertainment It does appear to be for everything, Diamond, Diamond UK, Diamond Select, CGA, Alliance Gaming, the lot. Diamond logo In January, Diamond Comic Distributors, the biggest[...]

Previously in the Diamond Chapter 11 Bankruptcy, the auction of Diamond Comic Distributors' assets saw Alliance Entertainment come out on top, beating out the backup joint bidder Universal Distribution and Ad Populum, as well as a lower bidder, Basic Fun. However, after the auction, and after Alliance Entertainment was declared the winner by Diamond, Diamond did a reverse[...]

Yesterday, saw the Chapter 11 Bankruptcy of Diamond Comic Distributors get its post-auction 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 It was intended to ensure the legality of the bid and the process But the events of the[...]

In January, Diamond Comic Distributors, the biggest distributor of comic books to comic stores in the world, declared Chapter 11 bankruptcy This enabled it to keep operating while it tried to find a more permanent solution to its debts But as the court hearing approaches in a matter of hours, things have suddenly got a[...]

This morning, Bleeding Cool reported that the debtors in the Diamond Comic Distributors Chapter 11 bankruptcy case had stated that they preferred the auction joint bid by Universal Distribution and Ad Populus rather than the previous winning bid by Alliance Entertainment or AENT. Bleeding Cool confirmed that the Universal/Ad Populus bid was just over $69 million,[...]

Universal Distribution, along with Ad Populum, may also be back in the game. Earlier this year, Diamond Comic Distributors, a stalwart distributor of comics to the direct market, declared Chapter 11 bankruptcy after a tumultuous half-decade On the 24th of March, the bankruptcy auction process initially selected Alliance Entertainment as the successful bidder of the Diamond-associated[...]

Diamond Comic Distributors today announced that it is continuing to finalize documentation for the sale of the assets of Diamond Comic Distributors, Alliance Game Distributors, Diamond Book Distributors, Diamond Select Toys & Collectibles, Collectible Grading Authority, and other related assets to Alliance Entertainment (not related in any way to Alliance Game Distributors) The United States[...]

Lunar Distribution was too expensive; they couldn't amortise their shipping costs to hundreds of individual stores through a central warehouse, as Diamond UK could do, and returns or replacements were hard.  So Diamond UK distributed DC Comics, Image Comics and the rest; the deal was done, it worked (mostly), and everything was ticking along. Then Diamond[...]

This comes after Udon Entertainment also began offering its titles to the comic book store direct market through Lunar Distribution rather than just through Diamond Comic Distributors as a result of Diamond's decision to enter Chapter 11 bankruptcy measures, and recently was sold to Alliance Entertainment. Udon for FCBD "We're delighted to be working with Udon Entertainment[...]

One Bruce Ogilvie, Chairman of Alliance Entertainment who, a few days later, with his partner Jeff Walker (who was physically at the auction) would buy Diamond Comic Distributors at auction as part of their Chapter 11 bankruptcy proceedings And yesterday he was on the podcast as this week's special guest First, the guys broke down the[...]

As part of Bleeding Cool's reportage of the Diamond Comic Distributors' Chapter 11 bankruptcy proceedings, including the agreed winning bid for the majority of the company from Alliance Entertainment or AENT, we noted the contracts that were being transferred from Diamond to Alliance Entertainment But it looks like this may be a rocky road ahead[...]