Diamond Declares Bankrupcy

[DSTZach]

We'll see where I end up. Probably not the toy industry. I'm so sorry that the line is ending this way, if that is in fact what will happen. I have not heard otherwise. 

[Navaan]

1 hour ago, DSTZach said:

We'll see where I end up. Probably not the toy industry. I'm so sorry that the line is ending this way, if that is in fact what will happen. I have not heard otherwise. 

Sorry sir, wishing you the best, you've been kind and patient and generous. Genuinely, all the best.

 

But apologies, you haven't 'heard otherwise' being that you haven't heard the line is ending? Or that you have?

[Strider]

5 hours ago, Padrino said:

I hate this so much. I’m so sorry, Zach. I am holding on to hope that this means bigger and better things for you. 

Same here. I am so sorry.

[Navaan]

Word is coming out that all of Diamond Select Toys is shut down, which would be an absolute shocker to me. Reaaaaally feels like Ad Pop is off the wall and not someone I can ever buy from. Holy wow. What was the point in buying Diamond? Why not sell off DST then? Why deny the higher bidder?

[Padrino]

5 minutes ago, Navaan said:

Word is coming out that all of Diamond Select Toys is shut down, which would be an absolute shocker to me. Reaaaaally feels like Ad Pop is off the wall and not someone I can ever buy from. Holy wow. What was the point in buying Diamond? Why not sell off DST then? Why deny the higher bidder?

It makes no sense. 

I had a few Kid Robot items i had preordered, again to support the new company, but screw them. They can’t support us as fans then they don’t deserve my money.

Edited May 18 by Padrino

[Padrino]

On 5/1/2025 at 2:18 PM, Padrino said:

Highest bidder plans to throw all of your square little block figures in the trash. Next highest bidder plans to donate them to children’s hospital where people can continue to enjoy them and may be inspired to pass them on, keeping them “alive”.

 

Not saying DST was being altruistic in this choice, but there may be factors that aren’t publicly available that went into the decision. 

This aged like milk in the desert sun…

[buttheadsmate]

On 1/18/2025 at 6:56 PM, buttheadsmate said:

 

 

Unfortunately for me I have a bit more knowledge of 'Corporate Bankruptcy' than I'd like & very few people involved come out the other end unscathed .

 

 

I wish Zach all the very best .

Fortunately for me my cynicism generally prepares me for any scenario & the current news surrounding Diamond would be about 'the norm' for companies going into administration (UK equivalent of Chapter 11)  .   The current scenario is typical & redundancies are more of the 'norm'.

I have mentioned the 'elephant in the room' during this thread , it hasn't gone away it's just stepped sideways.

Minimates dead  ?   I just can't see it .

 

[fwoosheyman]

If Ad Pop is really shutting down DST I would guess they bought DST only for the licenses and will move producing those items under their already existing companies NECA, etc. 

They might have enough design and manufacturing capacity to take on the additional work and don’t need DST.

[Navaan]

NECA Minimates feels... odd.

[buttheadsmate]

Posting in this thread is becoming more & more difficult for me , I want to be positive that there is a future for Minimates but the discussion may get awkward & I may sound callous .  Sorry !

Chuck Terceira is crucial to the future of minimates yet I have yet to see him mentioned anywhere .  

[Chigarillo]

3 hours ago, Navaan said:

Word is coming out that all of Diamond Select Toys is shut down, which would be an absolute shocker to me. Reaaaaally feels like Ad Pop is off the wall and not someone I can ever buy from. Holy wow. What was the point in buying Diamond? Why not sell off DST then? Why deny the higher bidder?

The whole thing with botched sale, and now this being the "preferred buyer," sounds like a "big business, big brain" CEO decision...

Id speculate that someone higher up probably saving their own butt and keeping their job with Ad Pop, but not being left in charge and getting fired if the highest bidder buys the company. 

Hope you land on feet Zach, and thanks for the years of being the go between of DST and our little plastic crack.

[Navaan]

Suppose we see what NECA/etc tries. I can see all of DST being folded into NECA, and NECA has some resources/market pull. They could, if they see value in Minimates as a pop culture hits brand like Funko Pops and ReAction and the like, it could be a resurgence. But it could be the end, who knows.

I wish the best for Zach, especially, and I further hope well for all the folks let go. That said, I can't lie and say I have agreed with some decisions and set-backs in the Minimates brand, and I will try to hope things go well, from here.

I just hope, more than anything, the folks land on their feet and take off running. More important than the hobby.

[Strider]

First and foremost I care about all the families that were affected. It’s a gut wrenching situation to find yourself in especially if the rumors are true that there were no severance packages, etc. To have continued to work through all of this unknown and with all the stress and anxiety that comes with it to just have it end like this is brutal. I hope and pray they all land back on their feet quickly.
 

As far as Minimates go I fear they are probably dead.

The forever optimist in me holds onto hope that NECA sees value in them and they bring in a lot of their licenses that have never seen Minimates before into the line. I could imagine a Haulathon set of Jaws Minimates (they could probably make Brody since Funko was able to). NECA could even do a shark in minimate scale. They may also continue them to try to establish a foothold with Marvel.

[Strider]

I am also concerned about retailers like Luke and other mainly minimate stores (not sure if there are others). If Minimates are done then there are other consequences than just the former Diamond employees.

[Navaan]

2 minutes ago, Strider said:

I am also concerned about retailers like Luke and other mainly minimate stores (not sure if there are others). If Minimates are done then there are other consequences than just the former Diamond employees.

I'm friendly with a mostly Minimate seller on eBay, but that is all whom I can think of. But aye, worries in place for Luke.

[nandoninny]

i think for luke this is a hobby but one of love for the brand.   Oddly enough i hit his store friday and just ordered a bunch of random stuff i’d been wanting to get.   Not a huge order or anything but i think it’d be great if everyone that could went and picked up some spare parts.  
 

this may get me back into what got me into minimates originally - which was the potential to customize the shit outta them

[fwoosheyman]

49 minutes ago, Chigarillo said:

Id speculate that someone higher up probably saving their own butt and keeping their job with Ad Pop, but not being left in charge and getting fired if the highest bidder buys the company. 

 

Considering Diamond scuttled the sale to the highest bidder, this or guaranteed big payout for the top execs is most likely why they wanted Ad Pop to be the buyer. Typical CEO and Corpo executive behavior no matter what industry.

[Gmonkey2k]

I’m so sorry, Zach… You were (and still are) one of the best in the biz. Hope you land on your feet

[Navaan]

15 minutes ago, Gmonkey2k said:

I’m so sorry, Zach… You were (and still are) one of the best in the biz. Hope you land on your feet

Here, here. No other rep for any video game or toy company or comic has been as kind, and I have years in different fields interacting with such folks. You've been awesome.

[CBMM1]

13 minutes ago, Navaan said:

Here, here. No other rep for any video game or toy company or comic has been as kind, and I have years in different fields interacting with such folks. You've been awesome.

Indeed! 

One of the highlights of each SDCC I attended was stopping by the DST booth and having a chat with Zach about the latest previews (he'd even drop some hints about unannounced stuff 🫢). My first was SDCC was well over a decade ago when I was still a teenager (ugh) and even then Zach made sure I was taken care of with all the Minimate exclusives I was hunting. 

Thanks for all you've done for us Multiversers over the years, @DSTZach!

[DSTZach]

Minimates fans are my favorite fans, Luke is my favorite retailer and the Multiverse is my favorite forum. Hopefully all three continue to thrive no matter what happens. I'll keep everyone posted if I hear any news. 

[Nessex]

4 hours ago, CBMM1 said:

Indeed! 

One of the highlights of each SDCC I attended was stopping by the DST booth and having a chat with Zach about the latest previews (he'd even drop some hints about unannounced stuff 🫢). My first was SDCC was well over a decade ago when I was still a teenager (ugh) and even then Zach made sure I was taken care of with all the Minimate exclusives I was hunting. 

Thanks for all you've done for us Multiversers over the years, @DSTZach!

Seconding (or thirding... or forthing?) this sentiment. 
Zach is the absolute best. Being an Aussie, I've only been able to make it to one SDCC ever, but Zach was there and was incredibly generous with his time and genuine with his excitement for the line. Meeting Zach and seeing the new prototypes on display an absolute highlight of my trip. 
Wherever you end up will be lucky to have you, Zach. 

[minifigvig]

thanks for everything, Zach. i’m unfortunately in the same boat, as i was also laid off recently. i really feel for you and everyone at DST.

this thread has been a hard one to keep up with, i’m just as sad as everyone else about how things went.

i’ve had a lot of fun in the time i’ve joined the multiverse and i agree that minimate fans are the best and Luke rocks.

[Chooch]

All the best to you Zach. You deserve better.

[hellpop]

Much love to you Zach, and also to some of our other boarders that were doing design work for DST. I hope you're all able to land on your feet and replace any lost work. If this does end up being the end of Minimates, it was a great run. I could see NECA or WizKids taking the figures and reimagining the packaging and presentation. But that seems like small potatoes compared to the human cost of this move. Team DST was the best; thank you all for your hard work and dedication over these many years.