Diamond Comic Distributors filed a voluntary petition for bankruptcy in the United States Bankruptcy Court for the District of Maryland, “to facilitate the restructuring of its business.” Universal Distribution has made a $39 million stalking horse bid for the Alliance Game Distributors unit. The company writes in a press release that they have received $41 million in debtor-in-possession financing from JP Morgan Chase to “fund post-petition operating expenses and ensure adequate working capital to meet its obligations to associates and suppliers.” Universal has also entered a Letter of Intent to buy Diamond UK. In what appears to be an organized […]
