Back when Diamond first filed for bankruptcy on Jan. 14 the question on everyone’s minds was whether Diamond would survive. It looks like we’re heading toward the answer, and it’s not the one a lot of people expected. At the same time, the bankruptcy case has taken an unexpected turn, one that has publishers up in arms.
On June 11, Diamond informed publishers who had inventory in their warehouse prior to the May 15 sale that those items now belong to Diamond and will be sold off to liquidate the debt. The court has set a hearing on this matter for July 21, and it’s likely to be a lively one: On Friday, July 11, Dynamite CEO Nick Barrucci sent out an email stating “Several publishers are pooling their resources together to…