Diamond Book Distributors, the book trade division of Diamond Comics Distributors, is suspending book shipments to Borders. In a letter sent to DBD clients this week, Bill Schanes, DCD v-p purchasing, said that Borders had suspended payments to Diamond, and the distributor was forced to suspend book shipments to the retail chain.
“We have made the difficult decision to stop shipping to them and put their account on hold, as of last week, until such time as they are able to resume payments,” Schanes wrote. He goes on to say that Diamond is “actively seeking a resolution to this issue and will work with Borders to get shipments moving again,” provided they can find a solution in the best interests of DBD and its publishers.
Diamond Comics Distributors is the dominant distributor in the comics shop market. The notice comes as Borders makes plans for a meeting with publishers to be held today. Borders will present more information on its refinancing and turnaround plans. Borders has also announced that it plans to shut down its LaVergne, Tenn. Warehouse by July.
