We propose a new scenario for the formation of asteroid-mass primordial black holes (PBHs). Our mechanism is based on the annihilation of the string-wall network associated with the
breaking of a U(1) global symmetry into a discrete ZN
symmetry. If the potential has
multiple local minima (N > 1) the network is stable, and the annihilation is guaranteed by a bias
among the different vacua. The collapse of the string-wall network is accompanied by
catastrogenesis, a large production of pseudo-Goldstone bosons (pGBs) — e.g. axions,
ALPs, or majorons — gravitational waves, and PBHs. If pGBs rapidly decay into products that
thermalize, as predicted e.g. in the high-quality QCD axion and heavy majoron models, they do not
contribute to the dark matter population, but we show that PBHs can constitute 100% of the dark
matter. The gravitational wave background produced by catastrogenesis with heavy unstable axions,
ALPs, or majorons could be visible in future interferometers.