AfterShock Comics releases official statement over filing Chapter 11 … – AIPT











AfterShock Comics’ official statement reveals the Chapter 11 filing is to ensure the company can operate going forward.
By
on
Yesterday afternoon it was revealed AfterShock Comics LLC had filed for Chapter 11 bankruptcy protection, and today, the company has released a statement.
In their statement, which you can read in full below, AfterShock Comics LLC states the intent of filing for Chapter 11 was to allow the company to maintain operations, including paying employees and following through on commitments to contracted creators.

Listen to the latest episode of our weekly comics podcast!


You can read the official statement in full, below.

After much deliberation, AfterShock Comics LLC has voluntarily filed a petition for protection under Chapter 11 of the United States Bankruptcy Code to enable the Company to restructure its senior secured facility as well as being in a position to secure additional financing to continue to operate its business.

The intent of this decisive action, among other considerations, is to allow the Company to maintain operations in the ordinary course including, but not limited to, paying employees and continuing existing benefits programs,, upholding and following through on commitments to contracted creators, as well as vendors who supply goods and services related to marketing, merchandising and advertising. AfterShock will continue to operate, publish and market comic books and graphic novels to supply to direct market retailers and mass accounts through its distributors in accordance with all federal, state and local guidelines.

We regret the inconvenience this has caused to those we work with and may cause in the near future. However, we believe that going forward this will allow us to best position the Company for long-term success.

After much deliberation, AfterShock Comics LLC has voluntarily filed a petition for protection under Chapter 11 of the United States Bankruptcy Code to enable the Company to restructure its senior secured facility as well as being in a position to secure additional financing to continue to operate its business.
The intent of this decisive action, among other considerations, is to allow the Company to maintain operations in the ordinary course including, but not limited to, paying employees and continuing existing benefits programs,, upholding and following through on commitments to contracted creators, as well as vendors who supply goods and services related to marketing, merchandising and advertising. AfterShock will continue to operate, publish and market comic books and graphic novels to supply to direct market retailers and mass accounts through its distributors in accordance with all federal, state and local guidelines.
We regret the inconvenience this has caused to those we work with and may cause in the near future. However, we believe that going forward this will allow us to best position the Company for long-term success.
Filing for Chapter 11 of the Bankruptcy Code generally provides for reorganization, so don’t count AfterShock Comics out yet!

Join the AIPT Patreon

Want to take our relationship to the next level? Become a patron today to gain access to exclusive perks, such as:

  • ❌ Remove all ads on the website
  • 💬 Join our Discord community, where we chat about the latest news and releases from everything we cover on AIPT
  • 📗 Access to our monthly book club
  • 📦 Get a physical trade paperback shipped to you every month
  • 💥 And more!

Sign up today

AferShock
Want to take our relationship to the next level? Become a patron today to gain access to exclusive perks, such as:

  • ❌ Remove all ads on the website
  • 💬 Join our Discord community, where we chat about the latest news and releases from everything we cover on AIPT
  • 📗 Access to our monthly book club
  • 📦 Get a physical trade paperback shipped to you every month
  • 💥 And more!

Sign up today

Exclusive previews, reviews, and the latest news every week, delivered to your inbox.
Marvel Preview: Spider-Man: The Lost Hunt #2

Comic Books

March 2023 DC Comics solicitations: Superman takes center stage

Comic Books

DC Preview: Batman / Superman: World’s Finest #10

Comic Books

BOOM! Preview: Book of Slaughter #1

Comic Books

© 2011 – 2022 AIPT, LLC. All rights reserved.

You must be to post a comment.

source

Leave a Reply

Your email address will not be published. Required fields are marked *