Tom Devlin of Highwater Books sent out a letter this morning to the cartoonists published by his company giving notice that Highwater will cease operations effective immediately. The Highwater on-line store operations are to continue until the end of the year.
The company's most widely circulated effort may have been Coober Skeber #2 -- The Marvel Benefit issue, where Highwater-related cartoonists did stories with Marvel characters in a humorous attempt to "aid" the then-struggling publishing giant. That book introduced many readers to a post-alternative generation of comics talent that with subsequent projects has since become much more familiar.
Books planned but not released by the company include Crum Bums, Maggots, I Pity You and SMB3.
John Porcellino recently announced his Perfect Example collection would receive a new edition from Drawn and Quarterly; no other moves have been announced.