Court Hearing to Approve Diamond Comic Distributors Bid Set for Monday
Diamond Comic Distributors (“Diamond” or “the Company”), 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. The United States Bankruptcy Court for the District of Maryland has scheduled a hearing for Monday, April 7, to consider Diamond’s request for the approval of the sale. All divisions of Diamond will continue to operate in the ordinary course as the process continues. Diamond’s U.K. business operations are not included in the proposed sale and continue to operate business as usual as well.
Diamond Comic Distributors Receives Court Approval for $41 Million in Debtor-in-Possession Financing
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.
Diamond Comic Distributors Files Voluntary Petition for Relief Under Chapter 11
Diamond Comic Distributors (“Diamond” or “the Company”), today announced that it has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Maryland to facilitate the restructuring of its business. As part of the restructuring process, Diamond has received a $39 million stalking horse bid from an affiliate of Universal Distribution (“Universal”) for Alliance Game Distributors.
