Diamond Comic Distributors have filed a motion to adjourn the hearing regarding its motion to approve procedures to sell or otherwise dispose of consignment inventory. The hearing was originally going to take place on July 21 with July 16, 2025 being the deadline for objections to be filed. July 21 is the Monday before San Diego Comic-Con and at least one publisher has asked for the hearing to be delayed until after the convention. Diamond has asked for the hearing to be moved to July 24 or 25, the Thursday or Friday of San Diego Comic-Con, an even worse date for publishers impacted by this motion (there’s 128 of them listed in the initial filing). The objection deadline date would remain July 16.

Multiple objections to this have been filed so far including TwoMorrows Publishing, Magma Comix, Graphitti Designs, and Abstract Studio. More are being worked on.

The move by Diamond to sell the consignment product is to allow Diamond to “expeditiously market, sell or otherwise dispose of their consigned inventory, thereby minimizing costs and maximizing sale proceeds to the benefit of the Debtors’ estates and their creditors.” The “creditors” is most likely JPMorgan Chase Bank who Diamond has a debtor-possession credit agreement which is due August 23.

In Diamond’s filing they state:

1. …the Debtors have already received several responses to the Consignment Motion from various consignors and anticipate additional responses before the Objection Deadline;
2. The Debtors have begun discussions with certain consignors to address the responses and related questions received to date regarding the consigned inventory. Adjourning the hearing on the Consignment Motion will permit the Debtors to further engage with consignors to narrow, or otherwise streamline, the potential issues to be presented to the Court at the hearing on the Consignment Motion;
3. The Debtors thus believe that the additional time will allow the hearing to proceed more efficiently.
4. …the Debtors received a request from one of the Debtors’ more significant consignors to continue the hearing on the Consignment Motion to accommodate a scheduling issue for counsel.

In short, Diamond is getting a lot of shit from publishers unhappy with the decision and they believe they can work out a plan ahead of the motion’s hearing and/or smooth over the objections. One major player is big enough that a scheduling issue for their counsel would get Diamond to want to change the date to accommodate them.

Diamond would like the motion to be decided sooner than later so they can begin the process of liquidation (if approved) ahead of the maturity date of its credit on August 23.

The hearing for the request will be held on July 17 at 2pm ET.

Read the court documents below: