Last month, Alliance Entertainment announced its plan to acquire Diamond Comic Distributors and its other assets through a court-supervised bankruptcy process. Today, Diamond Comic Distributors announced that the transaction process with Alliance Entertainment will no longer continue.
Instead, Diamond Comic Distributors is working with “alternative, exceptionally well-known” partners, according to Robert Gorin, Chief Restructuring Officer at Diamond Comic Distributors.
“These companies have strong balance sheets and, importantly, unmatched presence and experience in our core industries,” Gorin says. “We are finalizing purchase agreements with these third parties and expect to announce the identities of these purchasers and seek court approval very shortly to complete the sale transactions.”
Diamond Comic Distributors, Alliance Game Distributors, and Collectible Grading Authority support more than 5,000 retailers, including independent comic and game stores, specialty retailers, mass-market retailers, and e-commerce platforms. They also have longstanding relationships with some of the biggest brands in the industry, including Dungeons & Dragons, Magic: The Gathering, Pokémon TCG, Marvel, Dark Horse Comics, and more.
