Diamond Declares Bankrupcy

[luke314pi]

The latest twist in the Diamond Comics/Ad Populum drama is that they’re now countersuing all the comic book publishers involved in the lawsuit. Their ridiculous claim is that the publishers should have told them they still wanted the millions of dollars worth of comics Diamond was holding on consignment. Never mind that those books weren’t Diamond’s to begin with. Ad Populum is basically saying, “Well, you didn’t speak up, so we sold your stuff, didn’t pay you, and now that we’re out of cash, this is somehow your fault.”

Also because of this, the bankruptcy is going to drag well into 2026, and Ad Populum has more or less admitted they can’t return most of the consigned inventory. A good chunk of it was already sold off through warehouse sales at deep discounts, with none of that money going to the publishers who actually owned the product. Now they’re trying to keep the lights on by pointing fingers in every direction and hoping the courts buy it. 

[FightTheDead118]

13 minutes ago, luke314pi said:

The latest twist in the Diamond Comics/Ad Populum drama is that they’re now countersuing all the comic book publishers involved in the lawsuit. Their ridiculous claim is that the publishers should have told them they still wanted the millions of dollars worth of comics Diamond was holding on consignment. Never mind that those books weren’t Diamond’s to begin with. Ad Populum is basically saying, “Well, you didn’t speak up, so we sold your stuff, didn’t pay you, and now that we’re out of cash, this is somehow your fault.”

Also because of this, the bankruptcy is going to drag well into 2026, and Ad Populum has more or less admitted they can’t return most of the consigned inventory. A good chunk of it was already sold off through warehouse sales at deep discounts, with none of that money going to the publishers who actually owned the product. Now they’re trying to keep the lights on by pointing fingers in every direction and hoping the courts buy it. 

Damn, this thread is about to turn into “Ad Populum Declares Bankruptcy” real fast

[cylonchaney]

21 minutes ago, FightTheDead118 said:

Damn, this thread is about to turn into “Ad Populum Declares Bankruptcy” real fast

LOL That's just what I was thinking.

Also 😢

[Navaan]

1 hour ago, luke314pi said:

The latest twist in the Diamond Comics/Ad Populum drama is that they’re now countersuing all the comic book publishers involved in the lawsuit. Their ridiculous claim is that the publishers should have told them they still wanted the millions of dollars worth of comics Diamond was holding on consignment. Never mind that those books weren’t Diamond’s to begin with. Ad Populum is basically saying, “Well, you didn’t speak up, so we sold your stuff, didn’t pay you, and now that we’re out of cash, this is somehow your fault.”

Also because of this, the bankruptcy is going to drag well into 2026, and Ad Populum has more or less admitted they can’t return most of the consigned inventory. A good chunk of it was already sold off through warehouse sales at deep discounts, with none of that money going to the publishers who actually owned the product. Now they’re trying to keep the lights on by pointing fingers in every direction and hoping the courts buy it. 

Yeeeeep.

 

While I'm sure Ad Poplum will be fine, the mess is gonna be a hefty hit and I can see things- like Minimates, DST, such assets- being just tossed around everywhere.

[Padrino]

42 minutes ago, Navaan said:

Yeeeeep.

 

While I'm sure Ad Poplum will be fine, the mess is gonna be a hefty hit and I can see things- like Minimates, DST, such assets- being just tossed around everywhere.

hopefully in looking for a quick cash out they sell the minimate license to someone who actually has an interest in making them

[buttheadsmate]

In any civil-court case it's a common tactic for the Respondent ( the person being sued) to enter a counter-claim against the Complainant (the person suing). Counter-claims just double the paperwork & thereafter the costs .I'm no legal eagle but I do have some experience of civil-court actions (unfortunately)& (unfortunately) they can last for years , the legal vultures will see to that.   There is so much I could add about the actions of Ad Populum & the now-defunct Diamond Co. but neither company will come out of this with any honour . 

  

[Shanester]

The Minimate format is an asset that I assume Ad Populum took over in the buy out.  Who knows where it could end up or we may neve see it again.

 

[Navaan]

28 minutes ago, Shanester said:

The Minimate format is an asset that I assume Ad Populum took over in the buy out.  Who knows where it could end up or we may neve see it again.

 

I would say most companies use or sell assets but I'm genuinely confused by a lot of their business choices so IDK.

[Shanester]

18 hours ago, Navaan said:

I would say most companies use or sell assets but I'm genuinely confused by a lot of their business choices so IDK.

Same here.  You would think the first thing Ad Populum would do is align their media to start generating revenue or at the very least, put that media up for sale or license.  Its hard to know what is really happening here.

[Navaan]

And now Previews is shut down.

[SCW]

It again brings the question up… why buy Diamond if you were going to burn it to the ground? They already had a lot of bad reputation but to just scorch something you paid money for is just uh, not good business? 
 

There has to be some backdoor investment going on where they somehow profit by intentionally demolishing Diamond. We’ll probably never learn the truth.

[karamazov80]

This is all a real bummer. I'm particularly sorry for Luke. The community that developed around these little guys is special.

Also, I just noticed that I'm a "newbie" here 

Edited September 16 by karamazov80

[cylonchaney]

1 hour ago, karamazov80 said:

This is all a real bummer. I'm particularly sorry for Luke. The community that developed around these little guys is special.

Also, I just noticed that I'm a "newbie" here 

Just barely newer than me. LOL

[buttheadsmate]

On 9/16/2025 at 4:20 AM, karamazov80 said:

Also, I just noticed that I'm a "newbie" here 

Newbie are welcome , it seems like this forum take anybody these days . 

 

More bad news for the bad news thread . (Bleeding Cool source) .......the schedule for the hearings are further delayed to the 15th. October , & beyond by the looks of it .

"Jarndyce v Jarndyce " comes to mind . I'm not particularly well-versed in Charles Dickens' tales but I can recommend reading up on that one (Bleak House).    Charles Dickens was imprisoned for debt in 1824 .  

[Nervous Rex]

On 9/20/2025 at 3:29 AM, buttheadsmate said:

Newbie are welcome , it seems like this forum take anybody these days . 

 

 

Any room for an old timer like me? Sorry gang, I went out for milk awhile ago and got lost... I missed you (mostly) wonderful folks. Wanted to pop in and say hello in what seems to be some dark days for mates.

[Shanester]

Hey Josh, if we will let TBT back in here, we will likely let anyone in.  I do still try to keep the spammers out.

[Nervous Rex]

Ha, nice! I’m not sure if it’s the news about DST but I’ve been really thinking about this place a lot lately. 

[buttheadsmate]

I've just read that the US Bankruptcy Court has just granted Diamond "additional time to craft & solicit support for a bankruptcy reorganisation plan "  ...deadline 13th January 2026 . 

- Bleeding Cool 

'Norwegian Blues' come to mind .

 

[Padrino]

6 hours ago, buttheadsmate said:

I've just read that the US Bankruptcy Court has just granted Diamond "additional time to craft & solicit support for a bankruptcy reorganisation plan "  ...deadline 13th January 2026 . 

- Bleeding Cool 

'Norwegian Blues' come to mind .

 

so, in other words, more time to drag this out before a resolution?