Famosa, the historic Nancy and Nenuco toy company, requests pre-bankruptcy
The well-known Alicante toy company Famosa has announced that it has initiated a pre-bankruptcy process in Spain, a measure that is intended to be “temporary” and that does not prevent the company from continuing to operate and work. Sources from the Grouped Doll Factories of Onil SA (Famosa) have explained to EFE that the company, whose parent company is the Italian group Giochi Preziosi, expects This situation will be resolved “in the short term” and that there is “no doubt about continuity” of the business, where it has such recognized brands as Nancy, Nenuco, Pinypon, Barriguitas, Famosa Softies and Feber.
The cause of this measure is found in the delay in the closing of the financial restructuring of Giochi Preziosiwhich “has led to a significant reduction in working capital at Famosa, with an impact on operations and the viability of the business, marked by strong seasonality.”
“To save this exceptional and unexpected situation and guarantee its long-term viability, The company has initiated a pre-bankruptcy process in Spain,” the same sources have indicated, maintaining that “this is a temporary and protective measure with the objective of strengthening the financial structure of the company until the restructuring process of the parent company is closed, which ensures the injection of working capital that the company needs.”
“Meanwhile, the company continues to operate and work to resolve this exceptional situation in the short term,” they added that “although the company’s current financial situation is difficult, Famosa has no doubts about the continuity of its business, as well as about the future of its brands, references for more than 65 years in the Spanish and international toy industry”.
Established in Onil (Alicante) in 1957 as a result of the union of small companies under the name Fábricas Agrupadas de Muñecas Onil SA (Famosa), this well-known firm was integrated into the Italian group Giochi Preziosi in 2019 and has its production headquarters in the Las Atalayas industrial estate, in the municipality of Alicante.
In parallel to the relaunch of Imaginarium
It so happens that the news has been known parallel to the relaunch of Imaginarium. Since, the Alicante chain of toy stores Juguettos will put on sale more than 190 references of the Aragonese brand from which it acquired all its assets, including patents, designs, brand and corporate image. maginarium, which was founded in Zaragoza in 1992 by Félix Tena, closed permanently in April of last year, after 30 years in the market.
Months later, Juguettos, which is a cooperative of merchants from the provinces of Alicante, Albacete, Valencia and Murcia founded in 1975acquired the brand to relaunch its products this coming Christmas. With this new presentation of Imaginarium, its catalog also returns, which, starting October 27, will be available in most stores, the website and the Juguettos mobile application. The company expects that, in the first year with Imaginarium items already on the market, they may account for 5% of its total turnover.
