Alliance Entertainment Holding Corporation, a global distributor and wholesaler that specializes in media and collectibles, won a bid Tuesday to acquire the assets of Hunt Valley-based Diamond Comic Distributors.

Diamond, once the country’s top comic book distributor, filed for bankruptcy in January. The company began to lose its grip on distribution when the COVID-19 pandemic began, forcing Diamond to briefly suspend operations as other competitors popped up. More recently, the company struggled with delays in getting titles to comic stores on time.

Diamond warned in a federally mandated notice filed in January that if it didn’t find a buyer by April 1, it could face layoffs and the closure of its headquarters. Raymond James, a global financial services firm, hosted the auction in New York on Monday. There will be a court hearing Thursday to approve the sale.

A spokesperson for Diamond did not immediately respond to a request for comment.

The acquisition will include Diamond, Alliance Game Distributors, Diamond Select Toys and Collectible Grading Authority, which collectively represent a 42-year-old enterprise, according to a press release. The dollar amount of the winning bid was not disclosed.

“With their legacy of exclusive titles, deep retail relationships, and strong presence in comics, tabletop games, and collectible merchandise, these businesses are highly complementary to our existing distribution and fulfillment model,” Alliance Entertainment CEO Jeff Walker said in the press release.

The acquired businesses support more than 5,000 retail stores, from independent game and comic shops to online stores and mass-market chains, according to the press release.

Subject to court approval, the acquisition is expected to close next month, according to Alliance Entertainment.