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Canoo and Diamond Comic Distributors File for Bankruptcy Facing Industry Shifts
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- Canoo, an EV startup, filed for Chapter 7 bankruptcy, ending operations immediately.
- Canoo owes over $164 million to creditors, lacking government and investor support.
- Diamond Comic Distributors filed for Chapter 11 bankruptcy due to financial struggles.
- Diamond's lost exclusivity with Marvel and DC contributed to its bankruptcy filing.
- Diamond faces $50 million in liabilities and has over 1,000 creditors.
- Universal Distribution made a $39 million bid for Diamond's game division.
- Diamond secured a $41 million post-bankruptcy lifeline from JP Morgan.
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