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.
