Diamond Comics UK Breaks Away from US Parent with Barclays Backing
Diamond Comics UK today announced that in mid-September, its management team successfully purchased their business following the bankruptcy filing of its former US parent company, Diamond Comics (US). The deal, supported by financial backing from Barclays, secures the future of the UK's only nationwide comic book distributor. Safeguarding over sixty UK jobs in Cheshire.
As the only worldwide distributor to work with all major comic book suppliers, Diamond Comics UK plays a critical role in the UK publishing and retail ecosystem, as well as the global comic book industry.
The preservation of the company was facilitated when Barclays intervened by providing a £1.39m term loan through the Government Growth Scheme (GGS). This loan empowered Diamond Comics UK's management team to pursue a management buyout separating the successful UK entity from its distressed US parent company. With Barclays' support, the team submitted a bid and secured court approval on 25th August 2025.
Diamond Comics UK's successful management buyout ensures that UK retailers can continue sourcing from a single UK-based partner, avoiding the higher costs, potential for US tariff exposure and logistical challenges of sourcing from multiple international distributors.
Michael Holman, Chief Executive of Diamond Comics UK, said: "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. 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."
Owen Dady, Relationship Director at Barclays UK Corporate Bank, said: "We're proud to back Diamond Comics UK at this pivotal moment for their business and the UK comic industry. Diamond's management team has acted decisively to safeguard a vital link in the UK's publishing supply chain, protect jobs, and preserve an important cultural sector for retailers and readers alike."
Tim Wilkes of Kodansha Europe said, "In 2020, we decided that the best way to grow our business was by working in partnership with Diamond UK- the subsequent 5 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 remains undiluted.
We are therefore delighted that we will continue to work with Diamond UK going forward."
Cyrus Kheradi, EVP Penguin Random House US International Sales & Marketing, said: "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. We look forward to continuing our successful partnership."
The buyout positions Diamond Comics UK to continue its strong track record of success, providing certainty to publishers, retailers, and fans across the country.
