Diamond files Chapter 11

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Words that were unthinkable a decade ago: Diamond Comic Distributors has filed for Chapter 11 protection.

The company said it’s received financing to continue to operate as it sells off assets. Universal Distribution, which once wholesaled for Diamond in Canada, has bid for Diamond UK and Alliance Game Distributors. Diamond is seeking offers for its comics, toy, and collectible lines.

Diamond pointed to the loss of its status as exclusive distributor for all the majors, which lasted from the closure of Heroes World in April 1997 to DC’s departure to Lunar and UCS starting in April 2021, following Diamond’s multiweek shutdown early in the pandemic.
Founder Steve Geppi opened Diamond on Feb. 1, 1982 with one warehouse and 17 customers; but for the pandemic it’s shipped ever since. Diamond grew rapidly through the late 1980s to become the largest comic shop distributor; the sole survivor of the 1995-96 Distributor Wars, it lost most of its exclusive clients starting with DC early in the pandemic.
Diamond’s FAQ tells shops that it will be continuing to operate with most things unchanged, but there will obviously be more changes to come.
Diamond had THE main role in creating Free Comic Book Day in 2002, based on a suggestion by retailer Joe Field in my own Comics and Games Retailer magazine. It continues to be the organizing force for the day; it says it’s exploring contingencies for the event in the future.
Comics distribution as 2020 began had been stable for 23 years, but the first defection broke the dam. DC left for real in July 2020, Marvel to Penguin Random House in October 2021 followed by IDW in June 2022 and Dark Horse in June 2023. Image went to Lunar in September 2023.
Diamond had supplied a lot of information about comics sales and its monopoly status made it possible for Comichronto closely report how many comics Diamond sent to market. No one else reports; Diamond stopped monthly reports in April 2022, ending a long era of transparency.
But even in this latter period, Diamond was sorting and shipping more DIFFERENT comics than ever before, due to the vast number of variants — if only as a wholesaler for companies like Marvel and Image. Diamond still ran weekly reorder reports, which Comichron still shares.
At Comichron I’ve archived most Diamond publications, including Previews, Dialogue, and Dateline; I’ve also saved much of the digital data that it keeps public.
Diamond made history, and a lot of it. I’ve worked with Diamond for decades; I wish Steve and his team the best.
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