Blog - Page 55 of 1503 - The Toy Book

Basic Fun! Files for Chapter 11 Bankruptcy Protection; Plans to Restructure, Emerge Quickly

UPDATE: Read an expanded statement from Basic Fun!’s Jay Foreman here.

UPDATE No. 2: 8/6/2024 – Basic Fun! secured DIP financing.

Basic Fun! filed for Chapter 11 Bankruptcy protection today in a move that it’s calling a “strategic action to significantly strengthen its financial structure and position the company for future success.”

The company known for its extensive assortment of licensed products including Care Bears, Littlest Pet Shop, Lite-Brite, and Tonka, revealed that it, alongside “certain affiliated entities,” filed its case in the District of Delaware this morning. The filing involves Basic Fun Holdco, LLC, Basic Fun, Inc., TBDUM, LLC, TGS Acquisition, and K’NEX UK Limited.

Basic Fun! seeks approval of $50 million in debtor-in-possession (DIP) financing from affiliates of Great Rock Capital, as well as a $15 million subordinate facility to be provided by RBC and the company’s founders, Jay Foreman and John MacDonald. The move comes following years of toy industry turmoil, and the company believes that the financing, once approved, will allow it to continue the normal operation of its business through restructuring proceedings.

“Since the demise of our industry’s largest toy retailer Toys ‘R’ Us in 2018, through the tumult of the trade wars with China in 2019, COVID-19 in 2020 through 2021, the travails of the supply chain crisis in 2022, inventory overstocks in 2023, and consumer slowdown in the early part of 2024, our industry and Basic Fun have been through a gauntlet of challenges,” says Jay Foreman, Basic Fun’s CEO and majority shareholder. “We intend to use the restructuring process to put those challenges in the rear-view mirror, enabling us to secure a successful future and position us for growth and value creation.”

At press time, Basic Fun! expects to continue to purchase and sell inventory and to support its licensing, retail, and vendor partners following its financing approval. The company says it plans to present a “comprehensive restructuring plan” an an effort to “emerge from the court-supervised process quickly and effectively.”

Polsinelli PC is serving as legal counsel with Oppenheimer & Co. serving as financial advisor at this time.

Wind Sun Sky Entertainment Introduces 2 New Hires, Partners with Viral Nation on Content Deal with ‘The McCartys’

Canadian multimedia company Wind Sun Sky Entertainment (WSS) is bringing on two new hires for its leadership and management teams: Senior Vice President of Brand Growth and Partnerships Mohit Vijayakumar and Senior Director of Multi-Platform Strategies Linton Chokie.

Vijayakumar’s focus in his new position will be to create long-term sustainable growth for the company via commercial and philanthropic partnerships, with the priority to incorporate these goals with WSS’s Future Chicken project, which aims to promote optimism towards climate change for younger audiences through positive educational content. For 20 years, Vijayakumar has worked in the field of environmental sustainability as a consultant to multiple brands, fostering partnerships and securing sponsorships for celebrity athletes and explorers.

Chokie, formerly the Marketing Lead at Knowledge Network, will closely work with Vijayakumar and Catherine Winder, CEO of Wind Sun Sky Entertainment, on advancing the mission of the Future Chicken project by strengthening the studio’s media presence and engagement. Bringing his experience from Knowledge Network, he will oversee the brand’s social media channels, and play a pivotal role in its content creation and distribution.

Winder shares her thoughts on the new additions to the team. “Mohith and Linton are outstanding additions to the Wind Sun Sky Entertainment Group,” she says. “Their combined expertise in strategic partnerships and digital content strategy further deepens our bench strength as we continue to grow our brands and expand our Future Chicken mission.”

Wind Sun Sky Entertainment and Viral Nation, a social media marketing and talent representation agency, joined together in a content deal with the family content creators known as The McCartys. Together, they plan to use this partnership to start a multi-platform entertainment universe including their own series, various animated shorts, and a Roblox promotional experience. Known for their positive and family-friendly brand, The McCartys have accrued a following of more than 18 million across their TikTok and Youtube channels, and this is their first ever collaboration with both WSS and Viral Nation.

Regarding the collaboration, Winder states, “Expanding reach across multiple storytelling platforms and formats for iconic talent like The McCartys is just the kind of opportunity we look for. They are such a dynamic, funny, and relatable family that bringing them to life in an animated world was a natural next step in the evolution of their amazing universe.”

Paul Telner, Head of Programming at Viral Nation, adds, “This project showcases the boundless potential for content creators to explore diverse avenues and seize exciting opportunities beyond their current digital platforms. Working with The McCartys and Wind Sun Sky Entertainment represents a monumental step forward in the creator economy. This collaboration expands the reach of Viral Nation’s talent and pairs them with some of the best producers today.”

Hasbro Reveals Exclusive SDCC Action Figure Lineup

Hasbro will return to Comic-Con International: San Diego (SDCC) with a new line of exclusive action figures. Each collectible features fan-favorite fandoms, including Transformers, G.I. Joe, Marvel, and Star Wars. All products are exclusively available at Hasbro’s booth (No. 3213).

These figures transform into Cybertronian vehicles. | Source: Hasbro

Cobra Commander is ready for action. | Source: Hasbro

The set includes an additional figure of Cobra Commander in his snake form. | Source: Hasbro

Death's Head comes with a shield, weapons, and alternative hands. | Source: Hasbro

The window box is inspired by the character's retro collector card. | Source: Hasbro

This Black Series set features Darth Maul and a Sith Speeder. | Source: Hasbro

The figure also comes with six accessories, including his double-sided lightsaber. | Source: Hasbro

The Transformers Legacy United Voyager Class Fractured Friendship 2-Pack ($74.99) features two 7-inch action figures inspired by Gladiator Megatron and Orion Pax. Along with articulated limbs and weapon accessories, these two figures also transform into Cybertronian vehicles.

The G.I. Joe Classified Series No. 130 Cobra Commander ($39.99) is coming to the battlefield. This figure has multiple points of articulation and nine character-inspired accessory pieces. Buyers will also receive an additional Cobra Commander figure featuring his mutated snake form.

Heroes assemble! Attendees can bring the excitement of the Marvel universe to their collection with the Marvel Legends Series Death’s Head. This 6-inch articulated bounty hunter includes a shield, weapons, and alternative hands. For $39.99, attendees can collect this premium figure packaged in a window box inspired by the retro collector card.

The Star Wars: The Black Series Darth Maul & Sith Speeder features the Sith lord, figure, the intergalactic vehicle, and six accessories, including his double-bladed lightsaber. Attendees can expand their Star Wars collection with this 6-inch figure, starting at $59.99.

SDCC attendees can request a time slot through the SDCC Exclusives Portal to purchase their products at the Hasbro booth.

For those unable to attend, limited quantities will be available after the convention on hasbropulse.com.

CAMP Partners with RWS Global for Live Shows, Experiences

CAMP is teaming up with entertainment producer RWS Global to power its IP-driven experiences.

Following news of CAMP’s continued partnership with real estate investment trust Simon, the family entertainment destination is now bringing on RWS Global to expand its show and immersive experience offerings. RWS Global has experience creating and executing live entertainment, events, sports, exhibits, and more.

Through this strategic partnership, we're unlocking the potential for exponential growth by leveraging RWS Global’s production services, empowering us to amplify our focus on delivering what defines CAMP’s brand magic.

Jenica Myszkowski, CAMP’s CEO

RWS Global will serve as CAMP’s exclusive partner for currently touring shows such as BBC’s Bluey x CAMP, Disney’s Encanto x CAMP, and Universal’s Trolls x CAMP. The entertainment producer will also work on new IP shows in development. CEO, Chairman, and Founder of RWS Global Ryan Stana will additionally serve on the CAMP advisory board.

“When we combine our unparalleled expertise in live event planning, casting, and attractions with CAMP’s brand equity and engaged audience, we believe there is an opportunity for significant growth across the family entertainment sector,” Stana says.

CAMP is known for its interactive retail experience, offering a combination of merchandise and play space. The company currently operates seven locations across the U.S., with plans for a new store in Philadelphia later this year, and Houston next year.

LEGO Adds 2 Sets to Botanical Collection

LEGO has two sets joining its vibrant Botanical Collection, continuing to offer products that provide a relaxing hobby option for adults.

The LEGO Botanical Collection includes sets that feature flowers, bouquets, potted plants, and other botanically-themed builds. The collection is part of LEGO’s efforts to appeal to kidults, with sets that can be gifted for holidays like Valentine’s Day and displayed in the home once they’re built. Two new sets are joining the larger garden: The LEGO Chrysanthemum and LEGO Plum Blossom sets launch on Aug. 1.

LEGO Chrysanthemum ($29.99) | Source: LEGO

LEGO Plum Blossom ($29.99) | Source: LEGO

The LEGO Chrysanthemum set is 278 pieces. The finished build features posable leaves and petals, bright orange flowers, and a green flowerpot with a golden band around it, all set atop a wood-like plinth.

Also coming to the Botanical Collection is the LEGO Plum Blossom set. The set is 327 pieces and features bright red flowers, a blue flowerpot with a golden band, and a wood-like plinth Both chrysanthemums and plum blossoms are commonly depicted in art, and part of the quartet of plants known as the Four Gentlemen.

Both the LEGO Chrysanthemum set and LEGO Plum Blossom set are available for preorder now on the online LEGO Store and other select retailers. The sets release Aug. 1.

Spielwarenmesse eG’s World of Toys Pavilion Heads to Tokyo, New York, Hong Kong

Spielwarenmesse eG is continuing to host its World of Toys Pavilion, with showings this year in Tokyo, New York, and Hong Kong.

The Tokyo Toy Show, running from Aug. 29-Sept. 1, will host a fully booked World of Toys Pavilion. Thirty-two exhibitors from eight countries will share a stand at the show, and benefit from Spielwarnmesse eG’s support. The company provides exhibitors with a stand, basic equipment, marketing services, and individual support.

Toy Fair and several other trade shows host the World of Toys Pavilion. | Source: Spielwarenmesse eG

Plans for the World of Toys program don’t stop at Tokyo. The program is inviting exhibitors to register for two of next year’s events. The Hong Kong Toys & Games Fair runs from Jan. 6-9, with World of Toys registration closing Sept. 15. The show welcomes more than 1,800 exhibitors and 42,000 trade visitors to Hong Kong each year.

Toy Fair, running from March 1-4 in New York, will also have a World of Toys Pavilion. Registration for the Toy Fair World of Toys Pavilion program closes on Oct. 15. The large shared stand will have a prominent spot on Level 3 of the fair.

The World of Toys program has seen success at trade shows across the globe throughout the years. It had its Tokyo and New York debuts just last year, and continues to serve as an entry point for exhibitors into new markets.

Top Secret Toys Launches 4 ’90s-Inspired GigaPets

Top Secret Toys recently released four digital pets inspired by popular virtual pets from the ’90s such as CompuKitty. The company’s GigaPet line — which includes Bit Bunnies, Floppy Frog, Pixie, and StarCat/CompuKitty — is now available on Amazon for $19.99 each.

Each GigaPet fits in the user’s hand and features a keychain. The screens are enclosed by translucent glitter shells with four buttons and icons matching the theme of the digital pet.

The Bit Bunnies shell has icons of carrots and paws. | Source: Top Secret Toys

Kids can listen to frog noises while playing with Floppy Frog. | Source: Top Secret Toys

GigaPets Bit Bunnies features three bunnies, seven evolutions, and 13 mini games. Players can raise the bunnies from baby to mother, and each one has its own design, personality, animations, and games. Kids can unlock different games while raising the digital pet. With Floppy Frog, players can feed the virtual animal, take it to the vet, teach it tricks, play nine mini games, and more. Floppy Frog grows in size as the player cares for it and features five evolutions.

The Pixie digital pet features pink wings on the shell. | Source: Top Secret Toys

The StarCat/CompuKitty features two levels of difficulty. | Source: Top Secret Toys

Another GigaPets from the collection, StarCat/CompuKitty, combines the original CompuKitty with a new character, StarCat. Kids can feed both pets, play different mini games, take them to the vet, teach them tricks, and more. There are two levels of difficulty: StarCat is designed for beginners, and CompuKitty is for kids who are looking for more challenging play. The final offering, Pixie, includes eight evolutions and four mini games. Kids can defend the forest, catch fish, dive through hoops, help Pixie navigate mazes, cast weather spells, create potions, and more.

GigaPets are designed for kids ages 5 and up. For more information, visit topsecrettoys.us.

Funko Reveals ‘Funko Fusion’ Figures

Funko is preparing for the release of its new video game, and figures to go with it!

Funko Fusion launches later this year and features a mashup of worlds and characters with looks inspired by Funko’s iconic Pop! figures. The company has now revealed its first wave of collectibles inspired by the game, with characters across franchises such as Masters of the Universe, Jurassic World, Hot Fuzz, and more.

Pop! R.J. MacReady (Funko Fusion) ($12) | Source: Funko

Pop! M3GAN (Funko Fusion) ($12) | Source: Funko

Pop! Super Indominus Rex (Funko Fusion) ($25) | Source: Funko

Pop! Nicholas Angel (Funko Fusion) ($12) | Source: Funko

Pop! Rides Scare Mare & Scare Glow (Funko Fusion) ($25) | Source: Funko

Pop! He-Man (Funko Fusion) ($12) | Source: Funko

Characters featured in the first wave include R.J. MacReady from The Thing, M3GAN from M3GAN, Indominus Rex from Jurassic World, Nicholas Angel from Hot Fuzz, and Scareglow with Scare-Mare as well as He-Man from Masters of the Universe. Each of the new figures comes with a code redeemable for an item within the Funko Fusion game.

Pop! Funko Fusion Indominus Rex (Eddie-fied) | Source: Funko

Pop! Funko Fusion He-Man (Eddi-fied) | Source: Funko

Collectors also have a 1 in 6 chance to get the Pop! Funko Fusion Indominus Rex (Eddie-fied) when they purchase a Pop! Funko Fusion Indominus Rex and the Pop! Funko Fusion He-Man (Eddie-fied) when they purchase a Pop! Funko Fusion He-Man. These unique versions of the figures feature a popping purple color palette.

Funko Fusion launches Sept. 13. | Source: Funko

Funko Fusion, from 10:10 Games, launches on Sept. 13. The game includes more than 60 playable characters from more than 20 franchises, including Jurassic World, Back to the Future, JAWS, The Thing, Chucky, Battlestar Galactica, Hot Fuzz, The Umbrella Academy, Masters of the Universe, Invincible, and more.

Collectors can sign up to be notified when the first wave of Funko Fusion figures launches on the official Funko store page. The figures will be available at Funko.com and a variety of select retailers.

Outright Games to Launch ‘Nick Jr. Party Adventure’

A new video game from Outright Games will feature fan-favorite characters from Nick Jr.

In partnership with Paramount Game Studios, Outright Games’ newest release will feature franchises seen on Nick Jr., such as PAW Patrol, Dora, Blue’s Clues & You!, Blaze and the Monster Machines, Bubble Guppies, and Santiago of the Seas. Nick Jr. Party Adventure will launch for young gamers later this year.

Nick Jr. Party Adventure launches Oct. 11. | Source: Outright Games

Nick Jr. Party Adventure is a puzzle platformer featuring 18 characters kids already know and love. Dora, Blue, Chase, Molly, and more will join little gamers as they prepare for the Friendship Fiesta. Players can design and customize their avatars with accessories they unlock through gameplay, such as backpacks, sunglasses, shoes, hats, and more.

Kids can play alone or with a friend in two-player local co-op mode as they solve puzzles and search for collectibles in 72 levels across six different Nick Jr. Universe worlds. Players will need to watch for obstacles from Swiper, Crusher, and Mayor Humdinger as they bounce, boost, and teleport their way to new areas.

Outright Games is no stranger to adapting family-friendly entertainment. Since its founding in 2016, the game maker has released several licensed games, including Peppa Pig: World Adventures, DreamWorks Dragons: Legends of the Nine Realms, DC’s Justice League: Cosmic Chaos, and more.

Nick Jr. Party Adventure launches Oct. 11 on Nintendo Switch, PlayStation 5, PlayStation 4, Xbox Series X/S, Xbox One, and PC.

Wyncor Welcomes Fatima Chafai Isorce as Vice President, Global Marketing

The recently launched toy company Wyncor has brought on Fatima Chafai Isorce as its Vice President, Global Marketing. Chafai Isorce will report to CEO Julian Jacob.

Wyncor launched in January and has already developed a variety of product offerings, including patented toys such as the Miraball and SwopPop. The company is also producing several licensed offerings, with global rights from Paramount, Hasbro, Miraculous Corp., and Emoji Co. In her new role, Chafai Isorce will be responsible for the global marketing strategy and execution of the company’s wide range of products.

As a strategic thinker with a deep understanding of international markets, consumer behavior, and brand management, [Chafai Isorce] will play a pivotal role in driving our global growth, enhancing our market presence, and ensuring our products continue to captivate and delight children everywhere.

— Julian Jacob, CEO of Wyncor

Chafai Isorce will be tasked with marketing the company globally, and identifying growth opportunities and trends. She will head the creation and execution of multi-channel marketing campaigns including social media, TV, print, and more. Chafai Isorce will also lead efforts to build and maintain partnerships with key stakeholders and licensing partners.

Prior to her role with Wyncor, Chafai Isorce worked as a senior marketing executive at MGA Entertainment. She has additional experience as a Brand Manager at Chupa Chups and as a Group Brand Manager at Scotts Miracle-Gro.

Wyncor has seen success since its launch, with a retail presence in more than 45 countries. Chafai Isorce plans to continue efforts toward growth. “Joining this dynamic and innovative toy company is an exciting opportunity to contribute to a legacy of creativity and joy,” she says. “I am eager to work alongside the talented team to inspire the imaginations of children and families around the world, continuing to deliver exceptional experiences and cherished memories for generations to come.”

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