THE ownership of Viz Comic Distributions is back in North-East hands.

Entrepreneur Paul Richardson bought the business from American owners Diamond Comics.

Mr Richardson was recruited to manage the firm by original owner Andy Inman who started the company to distribute Viz Comics and related merchandising in 1987, before selling it to Diamond in 2001.

Diamond has since severedits connections with Viz, instead distributing and warehousing gifts and merchandise to Clinton cards, HMV, Virgin and other music stores.

Mr Richardson, from Whickham, Gateshead, secured funding from Royal Bank of Scotland to buy the £4m-turnover company after enlisting the help of Tait Walker Corporate Finance.