HABA eyes ‘complete new start’ as it files for bankruptcy

German toy and game firm HABA has filed an application for insolvency under self-administration at the Coburg district court.

In a statement, HABA has said ‘the self-administration means the chance for a complete new start after the economic turbulences of the past weeks and months.’

It was announced back in July that HABA was restructuring ‘to meet the challenges of the coming years.’

“The economic challenges have strongly affected us as a family-owned company in almost every aspect,” said Dr. Mario Wilhelm, Managing Director of the HABA FAMILYGROUP.

“We are currently realigning our course to respond as effectively as possible to these major challenges. Moreover, some decisions made in the past years have proven to be wrong in retrospect. We must admit that. We are now in the process of correcting them with the aim of making our company sustainable for the years ahead.”

–

To stay in the loop with the latest news, interviews and features from the world of toy and game design, sign up to our weekly newsletter here

More Recent News

Ravensburger debuts Marshmallow card for Disney Lorcana: Ursula’s Return

The new card features art from Simone Buonfantino.

Fuse promotes Hannah Palfrey to Creative Operations Manager and Client Lead

“I am committed to fostering a culture of innovation and collaboration,” said Palfrey.

Hasbro debuts Play-Doh Pizza Delivery Scooter

The Play-Doh Pizza Delivery Scooter comes with 10 modelling compound colours and 16 pretend accessories

Hasbro teams with tonies for ‘Learn with Peppa’ Tonie

The Learn with Peppa Tonie explores five key areas of learning: the natural world, emotions, community, creativity and the body.

Hasbro strikes deal with Playmates to produce and distribute Power Rangers toys

“We are honoured to work with Hasbro on the reimagination of this iconic franchise’s toy line for long-time fans and a new generation of children,” said Karl Aaronian, Playmates’ SVP of Marketing.

Moose Toys debuts Despicable Me collection, including ‘Ultimate Fart Blaster’

“There are a number of ‘firsts’ in this new line that are sure to amuse and entertain fans of all ages,” said Joe Smith, vice president of global and U.S. marketing, licensed brands, Moose Toys.