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Diamond Comics UK facilitates buyout following US parent company liquidation
Diamond Comics UK’s management team has purchased the business after the comic book distributor’s US parent company filed for bankruptcy.
The deal was backed by Barclays, which provided a £1.39m term loan through the Government Growth Scheme (GGS). The management team submitted a bid and secured court approval on 25th August 2025, and the buyout was completed in mid-September.
The deal ensures that 300 UK businesses can continue sourcing from a UK partner. This will enable them to avoid the higher costs, potential US tariffs and logistical challenges associated with sourcing from multiple international distributors. More than 60 jobs in Cheshire were also safeguarded because of the deal.
"When our US parent entered Chapter 11, it was vital that we acted swiftly to secure the future of our people, our partners, and the UK comic book community," said Michael Holman, chief executive of Diamond Comics UK. "Thanks to the support from Barclays, we’ve preserved 60 jobs here the UK and ensured that the UK’s only full-service comic distributor continues to thrive."
The news of the deal was welcomed by publishing partners including Kodansha Europe and Penguin Random House US International.
"We are pleased to hear that the UK market will continue to benefit from Diamond UK’s distribution services, as it has for over 30 years," said Cyrus Kheradi, executive vice-president, Penguin Random House US International Sales and Marketing. "We look forward to continuing our successful partnership."
Tim Wilkes of Kodansha Europe added: "In 2020, we decided that the best way to grow our business was by working in partnership with Diamond UK – the subsequent five years of unprecedented growth have justified that decision.
"Since the outset of the Diamond USA bankruptcy, our preferred outcome has always been a continuation of that partnership. The professionalism of Diamond UK during this difficult period has been exemplary. The standard of service, knowledge and love of the genre remain undiluted."
