Spielwarenhersteller Haba beantragt Insolvenz

The business is currently not child’s play: The toy manufacturer Haba Sales GmbH & Co. KG from Upper Franconia has filed for self-administered insolvency at the Coburg District Court. The court has ordered provisional self-administration. This was announced by the company based in Bad Rodach in the Coburg district.

„Ich kann den Antrag auf Eigenverwaltung nicht umformulieren“, sagte Geschäftsführer Mario Wilhelm. Allerdings sei dies für das Unternehmen die einzige Möglichkeit, in der schwierigen wirtschaftlichen Situation wieder erfolgreich zu sein.

In contrast to a regular insolvency procedure, in self-administration there is no insolvency administrator, but a so-called trustee who accompanies and supervises the process. According to Haba, this task is taken over by Tobias Sorg from the law firm dmp solutions. The management at Haba will remain in office. The company stated that they will continue the business operations „as usual“.

In August, the toy manufacturer announced that the Jako-o brand would be discontinued. The company had previously operated an online shop and mail-order business under the Jako-o brand, offering a specialized range of clothing, shoes, toys, and furniture for children and babies.

Expansionsziele sind Vergangenheit

The Haba Familygroup is currently undergoing the largest restructuring in its more than 85-year history, it was announced. The Upper Franconian toy manufacturer had previously reorganized its leadership team and announced a large-scale job reduction.

The company has experienced the „difficult economic conditions as a result of the Covid pandemic“ significantly, as stated in a communication. Just a few years ago, the company had announced ambitious expansion goals. The revenue was supposed to increase from 360 million euros to 500 million euros, and Jako-o was supposed to launch in ten neighboring European countries. Instead, the brand is being discontinued.