Elevate Playtime with SmartKidsHub's Delightful Collection of Educational and Entertaining Treasures!

Basic Fun! Emerges from Chapter 11 Reorganization

Jay Foreman - Basic Fun!

Following an October 21 update filed with the U.S. Bankruptcy Court, District of Delaware confirming the plans of its reorganization under Chapter 11 of the bankruptcy code, Basic Fun! says that it has “emerged from the process well-positioned for the future.”

The Florida-based company and its subsidiaries plan to move forward with plans to expand product offerings in the months and years ahead powered by $65 million in “new and existing” financing from the company’s lenders and founders.

I am incredibly appreciative of the tremendous efforts made by our team to get us to where we are today. I also sincerely thank our customers, licensors, suppliers and partners in the 60+ countries where we operate for their unwavering support, which was instrumental in achieving today’s positive and successful outcome. Our team looks forward to continuing to work with our partners around the world building our businesses and continuing to bring our iconic, innovative and renowned brands to millions of consumers globally.”

— Jay Foreman, Basic Fun! Founder & CEO and the company's largest shareholder

According to Basic Fun!, the company’s sales are set to grow 30% year-over-year in 2024.

The company says that it met all financial obligations and kept its business moving without interruption during the reorganization process.

The post Basic Fun! Emerges from Chapter 11 Reorganization appeared first on The Toy Book.

Trending Products

0
Add to compare
iHaHa Toddler Boy Toys for 3 4 5 6 Year Old, Total 236 PCS Construction Toys Race Tracks for Boys Kids Toys, Birthday Toys for 3 4 5 6 Year Old Boys Girls Kids
0
Add to compare
$34.99
0
Add to compare
Crayola Ultimate Light Board – White, Kids Tracing & Drawing Board, Holiday & Birthday Gift for Boys & Girls, Toys, Ages 6, 7, 8
0
Add to compare
$19.94
0
Add to compare
CPSYUB Matching Eggs Toys Color & Shape Recognition Sorter Puzzle, Montessori Toys for Baby Easter Travel Bingo Game, Sensory Early Learning Fine Motor Skills for Year Old Kids
0
Add to compare
$17.99
0
Add to compare
Laradola Dinosaur Toys for 3 4 5 6 7 8 Year Old Boys, Kids Take Apart STEM Construction Building Kids Toys with Electric Drill, Party Christmas Birthday Gifts Boys Girls
0
Add to compare
$20.59
.

We will be happy to hear your thoughts

Leave a reply

SmartKidsHub
Logo
Register New Account
Compare items
  • Total (0)
Compare
0
Shopping cart