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Diamond Comic Distributors Receives Court Approval for $41 Million in Debtor-in-Possession Financing

Funding Allows the Company to Pay Vendors, Continue Normal Operations

HUNT VALLEY, Md.--(BUSINESS WIRE)--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.

DIP financing is a typical form of financing used by businesses that are restructuring through a Chapter 11 process. It will be used to fund operating expenses and provide adequate working capital to meet its obligations to suppliers.

“We are pleased that the court has approved our DIP financing agreement. This Court-approved relief is a critical step for the company, ensuring we can pay our vendors and provide product to retailers,” said President Chuck Parker.

About Diamond Comic Distributors

Founded in 1982, Diamond Comic Distributors offers a multi-channel platform of publishing, marketing and fulfillment services, coupled with an unparalleled global distribution network for its retailers, publishers and vendors. Diamond’s mission is simple: to provide our customers the best in products, price and personalized service. Learn more at https://www.diamondcomics.com/

Contacts

Alex Goss
agoss@stantonprm.com

Industry:

Diamond Comic Distributors

Release Versions
English

Contacts

Alex Goss
agoss@stantonprm.com

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