News + Trends
Traditional company Haba announces insolvency
by Anne Fischer
Toy company Haba ends insolvency proceedings
4.3.2024
Translation: machine translated
The wooden toy manufacturer Haba has completed its insolvency proceedings under self-administration. The traditional Upper Franconian company is now venturing a new start.
Orchards, wooden marble runs and adorable children's tableware: the well-known toy company Haba had been producing these popular items since the 1970s before announcing its insolvency in its own proceedings last September. This means that a trustee was on hand to advise the company.
The Eisleben site in Saxony-Anhalt was closed and 450 jobs were cut. Today, 1000 employees still work for the company. The company also parted company with the children's clothing brand Jako-o. A large part of the turnover comes from orders for furniture for nurseries and all-day facilities. The Haba Familygroup remains the market leader in this area. With the end of insolvency, the company can also participate in public tenders again.
Concentration on high-quality toys
Only five and a half months after filing for insolvency, Haba can announce that the proceedings are over: The proceedings are over, Haba is independent again. The end of the self-administration proceedings marks an important milestone on the road to the future. "We are thus sending a
signal to our customers, suppliers and also the region," says
Mario Wilhelm, Managing Director of Haba Familygroup, in the accompanying press release. There are new orders and the company is daring to make a fresh start. In future, Haba wants to focus on high-quality toys and games to promote development. The reorganisation expert Marcus Katholing will continue to advise the management in the future.
Header image: Cineberg/Shutterstock
A true local journalist with a secret soft spot for German pop music. Mum of two boys, a dog and about 400 toy cars in all shapes and colours. I always enjoy travelling, reading and go to concerts, too.