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Aftershock Comics files for Chapter 11 Bankruptcy

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In what could be the first company to fall in a 2023 market correction, Aftershock Comics has filed for Chapter 11 bankruptcy in the state of California. Citing between $10-50 million in debts, and the same amount in assets, Chapter 11 is the kind of bankruptcy that allows for operations to continue while debts are reorganized. 

Among the largest creditors, $514,326 to UK distributor  AS Comics, and $398,887 to Canadian printer Imprimerie L’Empreinte. Other creditors include a list of creators, conventions, and other comics companies you’d expect to see. (Modern Fanatic, The Beat’s ad reps, are listed as a creditor.) 

Also today, Rive Gauche Television, a sister production company that merged with Aftershock in 2020 also filed for Chapter 11. Rive Gauche was run by Jon Kramer and Lee Kramer, who were the owners of Aftershock, and had produced popular cable fare such as The Dog Whisperer and Homicide Hunter in the past. Rive Gauche’s top creditor is Jupiter Entertainment, the company behind such shows as Snapped and In Pursuit With John Walsh, to the tune of nearly $1.5 million. 

You can read the entire filing below, (creators addresses have been redacted) and we’ve reached out to Aftershock for comment, but the general emotion that has been conveyed to us as news spread is one of sadness – but not unexpected sadness. Aftershock put out some good books and worked with some great creators and had good people at the company, like Joe Pruett, Mike Marts and Steve Rotterdam. But their recent financial difficulties as sent ripple effects throughout the industry, as this tweet thread from Christopher Cantwell, creator of the cult TV show Halt and Catch Fire, showed:

The full thread reads:

Late payments to the artist effectively killed / paused indeterminately an original 4-issue I co-created with Aftershock. Have had good faith convos w/ EIC Brian but w/ 2 issues done, no movement. If within a year you don’t have art costs to finish 2 issues within your budget…

…then your whole enterprise should be called into question. This statement says all under contract will be paid… but when? No word on that for months now. Zero direct communication. “Late” at a certain point becomes “non” if your income has a giant hole in it for 6+ months…

Artists, colorists, letterers, & writers should not have to be bookkeepers and accountants for imprints with business affairs, accounting, and legal departments.

On the TV / film side, unions have won important contract terms like “timely” and “pay or play.”

I have been taken care of across the board by every imprint I’ve worked for, including Aftershock, where I’m paid out on the series after delivering all contracted work.

But it rankles when colleagues suffer, taken advantage of for choosing to pursue a vocation they love…

…ignored as if they don’t exist……and when our most valuable assets—our ideas & efforts—languish in the mismanaging hands of those firms (and people!) we trusted with them.

That—and all this armchair devaluing by AI enthusiasts—is frankly dispiriting and fairly infuriating.

And look TV / film is no greener ethical pasture. Entire streaming series are being wholesale deleted in order to escape paying residuals, something unions have just barely carved out in new media (look up the difference between cable / TV resids vs streaming in WGA agreement)

And the amount of free work and writing I’ve done chasing TV / Film pitches and projects that didn’t happen would be staggering and extraordinary if it also weren’t entirely ordinary. I have been paid to pitch precisely once… for the only time I worked on a video game.

It was so shocking to me that I was actually anxious and felt at any moment a mistake would be realized and I would have to give the money back.

Unfortunately, fear of reprisal / overcompensation has been baked into the artistic trade as a pathology at this point.

If we let that fester, and accept continued devaluation in any form, then corporatized slight-of-hand and exploitation will only persist and get bolder and more egregious.

At the end of the day, it’s important to remember: they can’t do what we do.

So they should pay us for what we do.

On time.

And they should treat us with respect, through proper professional communication about project status / financial issues.

Anyway, the fight for fair compensation, the only American pastime I love more than baseball.

Aftershock is the first major comics company to file for bankruptcy in some time (but it may not be the last – another company is informally reorganizing as we speak.) Obviously this will be topic 1 for a while – we’ll up date the story as events warrant. 

Note: a list of unsecured creditors with home addresses has been removed from both these documents. 

Redacted – AfterShock Comics, LLC-22-11456

Redacted – Rive Gauche Television-22-11457 copy

 

 

 




In what could be the first company to fall in a 2023 market correction, Aftershock Comics has filed for Chapter 11 bankruptcy in the state of California. Citing between $10-50 million in debts, and the same amount in assets, Chapter 11 is the kind of bankruptcy that allows for operations to continue while debts are reorganized. 

Among the largest creditors, $514,326 to UK distributor  AS Comics, and $398,887 to Canadian printer Imprimerie L’Empreinte. Other creditors include a list of creators, conventions, and other comics companies you’d expect to see. (Modern Fanatic, The Beat’s ad reps, are listed as a creditor.) 

Also today, Rive Gauche Television, a sister production company that merged with Aftershock in 2020 also filed for Chapter 11. Rive Gauche was run by Jon Kramer and Lee Kramer, who were the owners of Aftershock, and had produced popular cable fare such as The Dog Whisperer and Homicide Hunter in the past. Rive Gauche’s top creditor is Jupiter Entertainment, the company behind such shows as Snapped and In Pursuit With John Walsh, to the tune of nearly $1.5 million. 

You can read the entire filing below, (creators addresses have been redacted) and we’ve reached out to Aftershock for comment, but the general emotion that has been conveyed to us as news spread is one of sadness – but not unexpected sadness. Aftershock put out some good books and worked with some great creators and had good people at the company, like Joe Pruett, Mike Marts and Steve Rotterdam. But their recent financial difficulties as sent ripple effects throughout the industry, as this tweet thread from Christopher Cantwell, creator of the cult TV show Halt and Catch Fire, showed:

The full thread reads:

Late payments to the artist effectively killed / paused indeterminately an original 4-issue I co-created with Aftershock. Have had good faith convos w/ EIC Brian but w/ 2 issues done, no movement. If within a year you don’t have art costs to finish 2 issues within your budget…

…then your whole enterprise should be called into question. This statement says all under contract will be paid… but when? No word on that for months now. Zero direct communication. “Late” at a certain point becomes “non” if your income has a giant hole in it for 6+ months…

Artists, colorists, letterers, & writers should not have to be bookkeepers and accountants for imprints with business affairs, accounting, and legal departments.

On the TV / film side, unions have won important contract terms like “timely” and “pay or play.”

I have been taken care of across the board by every imprint I’ve worked for, including Aftershock, where I’m paid out on the series after delivering all contracted work.

But it rankles when colleagues suffer, taken advantage of for choosing to pursue a vocation they love…

…ignored as if they don’t exist……and when our most valuable assets—our ideas & efforts—languish in the mismanaging hands of those firms (and people!) we trusted with them.

That—and all this armchair devaluing by AI enthusiasts—is frankly dispiriting and fairly infuriating.

And look TV / film is no greener ethical pasture. Entire streaming series are being wholesale deleted in order to escape paying residuals, something unions have just barely carved out in new media (look up the difference between cable / TV resids vs streaming in WGA agreement)

And the amount of free work and writing I’ve done chasing TV / Film pitches and projects that didn’t happen would be staggering and extraordinary if it also weren’t entirely ordinary. I have been paid to pitch precisely once… for the only time I worked on a video game.

It was so shocking to me that I was actually anxious and felt at any moment a mistake would be realized and I would have to give the money back.

Unfortunately, fear of reprisal / overcompensation has been baked into the artistic trade as a pathology at this point.

If we let that fester, and accept continued devaluation in any form, then corporatized slight-of-hand and exploitation will only persist and get bolder and more egregious.

At the end of the day, it’s important to remember: they can’t do what we do.

So they should pay us for what we do.

On time.

And they should treat us with respect, through proper professional communication about project status / financial issues.

Anyway, the fight for fair compensation, the only American pastime I love more than baseball.

Aftershock is the first major comics company to file for bankruptcy in some time (but it may not be the last – another company is informally reorganizing as we speak.) Obviously this will be topic 1 for a while – we’ll up date the story as events warrant. 

Note: a list of unsecured creditors with home addresses has been removed from both these documents. 

Redacted – AfterShock Comics, LLC-22-11456

Redacted – Rive Gauche Television-22-11457 copy

 

 

 

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