Geppi Family Enterprises Reveals That Due To Financial Difficulty Of Direct Market Retailors, Diamond Comics Distributors Will Not Pay Publishers This Week & Likely Going Forward Due To Covid-19 Coronavirus Pandemic!

Geppi Family Enterprises Reveals That Due To Financial Difficulty Of Direct Market Retailors, Diamond Comics Distributors Will Not Pay Publishers This Week and Likely Going Forward Due To Covid-19 Coronavirus Pandemic!

Here’s the communique released earlier this week.

      Dear Diamond Vendor:

      As the world responds to the outbreak of COVID-19, our focus is on protecting employees, understanding the risks to our business, evaluating the risks to our industry and examining the Federal Government resources available. While the full impact of this epidemic is still unknown, one thing is certain: supply chain disruptions have cash flow implications across the extended industry that can’t be underestimated.

      While we work to understand the current industry landscape, the unfortunate truth is that we are no longer receiving consistent payments from our customers. This requires that at this time, we hold payments to vendors previously scheduled to release this week. This is a difficult decision and not one we make lightly. As this situation continues to evolve, we are committed to building out a plan for payment and will have more information to share later this week.

      Thank you for your patience and understanding during these difficult times.

      Stan Heidmann
      President, Geppi Family Enterprises

Vendors refer to publishers and customers refer to retailors.

Tags: , ,