The media in Germany report that Marklin (Märklin really) went to the local courts today and declared that they cannot pay their bills anymore. This happens a day before the toy fair in Nürnberg starts in Marklin's 150th year. Since LGB is owned by Marklin, it is LGBs 3rd insolvency in 2 years.
The newspapers have been talking for a few days about negotiations with the banks about a credit line extension. These talks have failed and Marklin's investors, Kingsbridge and Goldman Sachs seem to be unwilling or unable to supply the neccessary cash.
Lets hope that there is somebody out there who can put Marklin and Trix and LGB back on track. Which may be wishful thinking in todays economy.
-konrad.
The newspapers have been talking for a few days about negotiations with the banks about a credit line extension. These talks have failed and Marklin's investors, Kingsbridge and Goldman Sachs seem to be unwilling or unable to supply the neccessary cash.
Lets hope that there is somebody out there who can put Marklin and Trix and LGB back on track. Which may be wishful thinking in todays economy.
-konrad.
