I tried researching the downfall of Innovation Comics and just kept getting directed to the same Wikipedia articles. The internet was around in the 1993/94 period but was still in its early stages, so documentation of what happened is sparse at best.
This is all theory on my part. And should be regarded as such.
Innovation Comics came out of nowhere and, in a relatively short time, became the fourth best selling comic publisher in the market. Behind Marvel, DC and Dark Horse. And, just as quickly, the company was filing for bankruptcy. So what happened? Quite a bit.
Comics went through a huge resurgence in the early part of the 1990's. Comics were hot. People who normally didn't purchase comics were buying multiple copies of everything in sight with the idea that they would become as valuable as Action #1. That didn't happen. Those buyers left the market and sales reflected that. Diehard comic readers, like myself, got frustrated by the erratic publishing schedule of the independent publishers. Distribution was often erratic as well. Now, the irregular schedule might have been okay with self contained stories but not with serialized ones. If issue #1 came out in February and #2 which was supposed to be out the following month but doesn't actually come out until October, that sends out a bad message. It shows that, for whatever reason, the publisher is unreliable. The story loses momentum and the reader loses interest. This was particularly true with the Barrettstown saga. It was very difficult to keep track of what was going on. The pacing of the story dragged. It didn't need four issues.
Innovation was big on having painted artwork in all of their comics, rather than the traditional pen and ink art. It worked for some of their books but not all. I am not an artist or a painter, so I have no idea how long it took to complete the art for a single book. But I would not be surprised if it contributed to further delays.
Which brings us to 1993. If the company went belly up in 1994, the writing had to be on the wall for a while. The creators, printers and investors were probably asking for their money for some time. And who would know the situation better than the man in charge? Again, pure speculation on my part. But by resigning his position and becoming a consultant might have lessened his legal obligations to Innovation's creditors. I don't think that Campiti ever filed for personal bankruptcy