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Article: Cash-strapped comic book maker hits hard times again. (Blackthorne Publishing Co.) (company profile)
- Article from:
- San Diego Business Journal
- Article date:
- January 22, 1990
- Author:
CopyrightCOPYRIGHT 1990 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Cash-strapped comic book maker hits hard times again
Blackthorne Publishing Co., the El Cajon company that hoped to cash in on a 3-D comic featuring Michael Jackson, confirmed last week that it has suspended operations while it seeks refinancing.
Saddled with $180,000 in accounts receivables and lacking cash reserves, the 3-D comics publisher last November laid off eight of its nine employees, including editor in chief John Stephenson. It also has postponed further comic book publishing ventures, including the comic version of Jackson's famous "Moonwalker" video.
"We had some distributor problems over the past year and just ran out of cash," said ...