”We have come a long way and our reorganization plan was approved by creditors and the court. We have been working around the clock to get to a framework for the reconstruction of the Top-Toy. But unfortunately we have been forced to realize that we cannot continue on the basis of the weak holiday shopping season”, says Per Sigvardsson, ceo for Top-Toy in a comment.
Some of the reasons behind Top-Toys bankruptcy is reported to be the digitisation, more competitors and the changing lekvanor among the children.
According to the latest financial statements for the company's broken fiscal years landed the net loss for the Top-Toy of more than two billion Danish kroner.