The restructuring at Basic Fun! continues as the company inked a deal with Great Rock Capital to support its ongoing business operations.

Under the deal, Great Rock Capital provided $50 million debtor-in-possession (DIP) financing to allow Basic Fun! ample liquidity as it continues to shore up its business for and plan for future success. On June 28, Basic Fun! sought court approval for the DIP deal as part of its restructuring package.

We are thrilled to have the backing of Great Rock Capital, which strongly positions Basic Fun! for continued advancement and innovation. This milestone is a testament to our resilience and strategic vision.”
— Jay Foreman, Founder & CEO, Basic Fun!

Basic Fun! designs, markets, and distributes a wide array of toys from classic brands, including Hasbro’s Littlest Pet Shop, Lite-Brite, and Tonka, in addition to Care Bears, K’NEX, and Lincoln Logs. Last month, the company showed off its new and upcoming products at The Toy Insider’s Sweet Suite event in New York City [The Toy Insider is a sister publication to The Toy Book].

Basic Fun!’s retro, ’90s-themed photo op, pre-show ahead of Sweet Suite 2024 | Source: The Toy Insider

“Basic Fun! is an international industry leader, and we look forward to working with the company as they simplify their capital structure, enabling them to aggressively pursue future growth opportunities,” says Stuart Armstrong, CEO of Great Rock Capital. “Their innovative designs and unmatched leadership, along with this new capital, will allow them to reach new levels of success.”

Oppenheimer & Co. Inc. served as the exclusive financial advisor for the transaction.

About the author

James Zahn

James Zahn

James Zahn, AKA The Rock Father, is Editor-in-Chief of The Toy Book and Co-President of The International Toy Magazines Association (ITMA). He is also a Senior Editor at The Toy Insider and The Pop Insider, and Editor of The Toy Report, The Toy Book‘s weekly industry newsletter. As a pop culture and toy industry expert, Zahn has appeared as a panelist and guest at events including Comic-Con International: San Diego (SDCC), New York Comic Con, Wizard World Chicago, and the ASTRA Marketplace & Academy. Zahn has more than 30 years of experience in the entertainment, retail, and publishing industries, and is frequently called upon to offer expert commentary for publications such as Forbes, Marketwatch, the Wall Street Journal, the New York Times, USA Today, Reuters, the Washington Post, and more. James has appeared on History Channel’s Modern Marvels, was interviewed by Larry King and Anderson Cooper, and has been seen on Yahoo! Finance, CNN, CNBC, FOX Business, NBC, ABC, CBS, WGN, The CW, and more. Zahn joined the Adventure Media & Events family in 2016, initially serving as a member of the Parent Advisory Board after penning articles for the Netflix Stream Team, Fandango Family, PBS KIDS, Sprout Parents (now Universal Kids), PopSugar, and Chicago Parent. He eventually joined the company full time as a Senior Editor and moved up the ranks to Deputy Editor and Editor-in-Chief.

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