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Atomic Comics closes its doors

Started by John R,

89 posts in this topic

John R

John R

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Posted

and files bankruptcy.

 

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Yesterday, the news began spreading on social networks. That employees of Mike Malve’s four-strong chain of Atomic Comics in Phoenix, Arizona was closing, effective immediately.

 

Atomic Comics manager Thomas Healy tweeted;

 

Yes @Atomic_Comics is now closed. I will miss running my store. I had the best staff ever! @jinbins, Sam, Jill, Yvette and everyone else.

 

Atomic Comics assistant manager of Jennifer Davidson tweeted;

 

Good-bye forever, Atomic Comics :(

 

:( they just told us today. I hate everything. I’m so sorry :(

 

yup. Every store. :( Atomic is done

 

I just feel bad for customers. :( Like NO NOTICE. It’s ridiculous

 

all I’ve heard is that everything in every store is now the IRS’ malve filed for bankruptcy

 

It appears from that final tweet that Atomic Comics may have been in trouble with its taxes. This was certainly not a Diamond cashflow issue as some have suggested , as there would have been plenty of people able to help in that event. Atomic Comics was considered an important chain by the kind of people who would help out in such a situation.

 

He sent a weekly mailing to a bunch of industry types, week by week, breakingdown what had sold, what hadn’t, and by how much, along with analysis of the current market and his store. According to folks on the receiving end of this, there was no sign of yesterday’s events whatsoever. And people in publishing who spoke to the owner Mike Malve last last week report that there was no hint of trouble. However, Atomic had been running a $1 back issue sale for over a month and had kept extending and extending it. And the East Valley Tribune states “The business had recently shut down its online storefront, with a note that it would soon return; its store on eBay also was dark.”

 

Whatever happened here, happened fast, or happened in secret.

 

The store had also gone heavy on the DC relaunch, it would have to be something serious to see all four stores close before those books started to ship.

 

Atomic Comics was often a go-to store for opinion and advice from the industry as a whole, and was recreated by Mark Millar in the movie Kick as the characters’ local store.

 

This follows the shutting down of Phoenix store Stalking Moon Comics a few weeks ago. Samurai Comics with two stores is the only remaining chain in the Phoenix area.

 

A lot of people had things to say;

 

Joe Quesada: Incredibly sad day today. The best retailer I’ve ever met closed his doors. There’s never been anyone like @atomicmike and there never will.

 

Rob Liefeld: Heard from 2 former employees that confirmed Atomic Comics is outta business.

 

Dan Slott: Sad to hear Atomic Comics may have closed their doors. Whatever the case, all my best to @atomicmike.

 

Larry Doherty: Print runs are REALLY low. Publishers that market digital to the SAME customer base just put Atomic Comics out of business

 

Ben McCool: Horrified & upset to hear about Atomic Comics closing. Was lucky enough to sign there last year & had the time of my life. Devastating blow.

 

Skottie Young: It’s been confirmed by many people that Atomic Comics has indeed closed it’s doors. Closed.

 

Jim McCann: Heard from him myself, it’s true. Atomic Comics is no more. My heart goes out to @Atomicmike

 

Brian Bendis: i don’t know what happened or whats up but @atomicmike is and will always be one of the best retailers ever!

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BrianR

BrianR

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Its shocking to hear about Atomic Comics being a local. I honestly never went to the store unless it was to buy a con ticket or missed a comic I wanted and was unable to find elsewhere. I am more sadden by Stalking Moon even though it was no longer under the ownership of the original owner, they are now in Prescott, and this was sold to a former employee. It was real first comic store I ever went to and I really loved it in its hey day. I even worked at the Bell Rd location after College until I found a "real" job back in the early-mid 90's.

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the blob

the blob

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with that said, it looks like there's probably an opportunity for 1 - 3 comic shops to come in and fill the void. as chain stores i'll assume they were big locations...maybe a smaller venue or two. the article seems to infer that maybe sales were good enough, but when you get behind with the IRS it's deadly (then again...how exactly does a store get behind with the IRS? can't they cook up enough expenses to never turn a profit? OR, did the IRS/state sales tax folks come in and decide they weren't charging/paying taxes on their cash business?

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Mike's Rack

Mike's Rack

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It's sad to hear. I hadn't been into Atomic since 1994 but they always did the con. The hobby was better off with them. There are still several good shops in the Phoenix area - Jesse James, All About, Samauri, Hero, Greg's, and some others that I can't remember off the top of my head.

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Logan510

Logan510

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I don't mean to be a negative nelly here, but one of the first things I thought of are all of the members who're pollyannaish when it comes to the health of the comicbook marketplace. 1/3 of the stores open compared to 10-15 years ago, new issue sales at all time lows and the largest distributor ( Diamond ) having financial trouble. I wish I had the answers, but I don't see comics on the web "saving" the industry like the introduction of the direct market did over 30 years ago. It's painful to watch :(

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MrBedrock

MrBedrock

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I don't mean to be a negative nelly here, but one of the first things I thought of are all of the members who're pollyannaish when it comes to the health of the comicbook marketplace. 1/3 of the stores open compared to 10-15 years ago, new issue sales at all time lows and the largest distributor ( Diamond ) having financial trouble. I wish I had the answers, but I don't see comics on the web "saving" the industry like the introduction of the direct market did over 30 years ago. It's painful to watch :(

 

The interesting thing is that it is NOT industry wide. There are retail stores doing very well. There are new issues floppy monthly comics that are selling well to the general public. The industry, as a whole, is not dying. But a story like this, regardless of the cause, will set tongues a wagging as proof of the upcoming demise of the retail comic book as we know it. That is what scares me. That I am going to have to spend so much of my time assuring my customers that since Mike Malve shut Atomic Comics doors yesterday I am not going to shut my doors tomorrow. Certainly the economy as a whole, and some factors in particular, will have a negative effect on the retail sector. And some stores will choose to throw in the towel. And Diamond may get caught up in a numbers game. But as long as each retailer diversifies, stridently guards their bottom line, and takes advantage of the incredible advertising opportunities which the medium has to offer, then every individual store not only should survive but succeed.

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Logan510

Logan510

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I don't mean to be a negative nelly here, but one of the first things I thought of are all of the members who're pollyannaish when it comes to the health of the comicbook marketplace. 1/3 of the stores open compared to 10-15 years ago, new issue sales at all time lows and the largest distributor ( Diamond ) having financial trouble. I wish I had the answers, but I don't see comics on the web "saving" the industry like the introduction of the direct market did over 30 years ago. It's painful to watch :(

 

The interesting thing is that it is NOT industry wide. There are retail stores doing very well. There are new issues floppy monthly comics that are selling well to the general public. The industry, as a whole, is not dying. But a story like this, regardless of the cause, will set tongues a wagging as proof of the upcoming demise of the retail comic book as we know it. That is what scares me. That I am going to have to spend so much of my time assuring my customers that since Mike Malve shut Atomic Comics doors yesterday I am not going to shut my doors tomorrow. Certainly the economy as a whole, and some factors in particular, will have a negative effect on the retail sector. And some stores will choose to throw in the towel. And Diamond may get caught up in a numbers game. But as long as each retailer diversifies, stridently guards their bottom line, and takes advantage of the incredible advertising opportunities which the medium has to offer, then every individual store not only should survive but succeed.

 

 

The sales numbers across the board are what scare me. If the best selling book is barely breaking 100,000 copies a month, I don't see how that could be considered thriving. Though I'm personally glad to hear that your stores ( or any stores for that matter ) are doing well. I don't want the industry to die..I want it to grow and flourish.

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Mr 9.8

Mr 9.8

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http://www.bleedingcool.com/2011/08/22/atomic-comics-closed-down-by-a-sixteen-year-old-girl/

 

Atomic Comics Was Closed Down By A Sixteen Year Old Girl Submitted by Rich Johnston on August 22, 2011 – 1:50 pm

 

In a letter by Mike Malve, owner of the Atomic Comics chain in Phonenix, Arizona, talks about the reasons for the bankruptcy of the business and the foreclosure of his family home. Too high rents, a falling economy, but Mike points to one moment in 2006 as the catalyst for the company’s problems, “when a 16 year old uninsured driver, drover her car through the window of our Mesa Superstore, our largest and greatest revenue producer. This in turn caused a flood as the water main had been hit. This caused such severe damage and loss that we had to shut down for over 5 months. The damages were so severe we lost close to a million dollars in product. The loss of revenue due to being closed all those months as we headed into retail’s busiest season was astronomical.”

 

A report at the time stated that “A 16-year-old girl told police she accidentally crashed into a Mesa comic book shop Tuesday, bursting a water pipe, flooding the store and causing at least $1 million in damage. The teenager initially denied causing the crash, but later told police she thought she was applying the brake but hit the gas and smashed into the store around 9 a.m., Mesa police Sgt. Chuck Trapani said. She told police she was frightened and fled in the vehicle. Witnesses got a description of the vehicle, a 1996 Oldsmobile Achieva, and a possible license plate. Police later tracked the registered owner of the car and found the driver. Police are trying to determine the suspect’s state of mind to determine whether charges will be made, Trapani said.”

 

There are no signs that the girl in question was ever prosecuted.

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