Last week, Diamond Comic Distributors announced it had filed for Chapter 11 Bankruptcy. While bigger companies like DC Comics, Marvel, and Image already have deals in place with other distributors, smaller publishers are feeling the strain, as they may not have anywhere to go. American Mythology responded to the Diamond announcement, explaining its position.
In an email, American Mythology stated:
If you missed the news – Diamond Comic Distributors – the outlet that supplies comic books to retail shops has filed for bankruptcy. They are not paying publishers for approximately 2 months’ worth of books. They shipped them in to stores and now that money is gone pending a bankruptcy evaluation. The best-case scenario is that some portion of the money will get paid back at some point in the future. Worst case is that it is just gone. Leaving a lot of publishers – American Mythology included – holding the bag for huge print bills and creative costs.
The truth is – we don’t know if we are going to survive this. Not only for the immediate expenses but for future distribution into comic shops if Diamond fully goes under. We’ve reached out to other distributors but no one is looking for small publishers to add to their distribution slates. We were exclusive with Diamond and now we are facing a world where we may not have access to comic shops in the future.
We are doing everything we can to survive this and to keep making your favorite horror comics. But only time will tell. Our first hurdle is with the immediate bills we have to pay with no incoming finances.
While this is only one side of the argument, I suspect there is a great deal of truth in these words that are also being echoed by others. If you are a small comic book publisher, let us know what you are doing – or where you are going – to get your comics to shops around the country.
