Superhero Week here on Geek Native is intended to be a celebration of superheroes, but there’s a crisis we need to tackle.
Why? Collectively, we can make a difference.
Comic book publisher Dynamite Entertainment, the company behind hits like The Boys and licensed titles for Disney’s Gargoyles, is facing a financial crisis, warning it may not be able to make payroll. The publisher states it is owed over $1 million by the now-bankrupt distributor, Diamond Comic Distributors, and a US court has just denied its request for an emergency hearing.
The situation has become increasingly precarious for the publisher of Red Sonja and Vampirella. As reported in detail by Rich Johnston at Bleeding Cool, Dynamite filed a motion with the US Bankruptcy Court to expedite a hearing on payments they argue are due. The publisher, which employs fewer than 30 people, claimed in its filing that without prompt payment from the debtor, it would not have the funds for its upcoming payroll.
Dynamite had sought to have its outstanding invoices, largely for stock delivered to Diamond after its bankruptcy filing, classified as “administrative expenses.” This legal designation would grant them priority for payment over other creditors. However, Diamond challenged this, and the court has now rejected the plea to bring the hearing forward from its scheduled date of July 16th. According to Bleeding Cool’s report, Dynamite CEO Nick Barrucci was not permitted to speak during the hearing on the motion to expedite.
This is the latest shockwave from the collapse of Diamond Comic Distributors, a crisis that has left many publishers in a difficult position. As Geek Native reported previously, several tabletop game publishers have also been fighting to reclaim their stock from Diamond’s warehouses amidst the liquidation process.
In an effort to generate emergency funds, Dynamite has launched a new Humble Bundle featuring a selection of its popular Disney comics. The collection includes digital editions of titles like Darkwing Duck, Lilo & Stitch, Hercules, and Disney Villains. A portion of the proceeds from the bundle will support First Book, a non-profit organisation that provides books and educational resources to children in need.
The publisher’s plight has prompted an outpouring of support from the creative community, with many urging fans to help by purchasing the bundle.
Gail Simone, a frequent and celebrated collaborator with Dynamite, urged fans on social media:
I urge EVERY ONE of you to check this out. Dynamite is an IMPORTANT publisher. They publish a variety of books no one else is doing, and their loss would be a huge blow to the industry. Due to short-sightedness and more from other players in this story, Dynamite is in a position any publisher would struggle to overcome. These are good guys, the best guys. This is just not right. Please check out their humble bundle. I almost always buy them anyway because they are just huge armfuls of great comics.
Writer and publisher Joe Pruett of Desperado Publishing, who also has stock tied up in the Diamond bankruptcy, added his voice:
If you like comic books, please consider helping out my friends at Dynamite as they are owed over $1 million dollars from the disaster that is the bankruptcy of Diamond Comics, and buying something directly from them. Diamond is also trying to liquidate all their consignment stock stored at their warehouses, which should be illegal, as they do not own it. They have some of my stock from the Desperado Publishing days, which I also cannot get back from them and will have to file a motion in court to try to do so. Help Nick and the Dynamite gang, if you’re able to.
Writer Amanda Deibert described the situation as awful, noting:
This is awful. Dynamite is a wonderful publisher to work with and I am so sad they are getting screwed liked this. BUY THE HUMBLE BUNDLE!!
The legal battle is set to continue. Although the request for an expedited hearing was denied, the core issue of whether Dynamite will receive the money it is owed remains undecided. That will be addressed at the hearing on July 16th. In the meantime, the future for the publisher of The Powerpuff Girls and Thundercats comics appears to hang in the balance, a stark reminder of the ongoing fallout from Diamond’s collapse. For fans who want to help, Dynamite’s comics are available digitally, in the bundle, and through other distributors, such as Lunar Distribution.
You can find more typical but entirely random Superhero Week news by leaping on these teleport links. Go on, do it!
