Funko, for some unfathomable reason, is a publicly traded company, and so they're required by law to give financial reports to the SEC. In their latest, they admitted that they're losing money and, outside of some big windfall or new investors, won't have the funds needed to repay loans that are due next September. Sales dropped 14% compared to the year before, going from an $8 million profit to a $1 million loss.
Part of that is tariffs, obviously, but even more is that the toys are overproduced and people are tiring of them. Remember when the company just dumped a bunch of product in a landfill to take the tax write-off? Maybe that should have been a sign to them that it was time to slow things down.
Of course, the important thing is that this will surely have no effect on any other companies. I mean, it's not like there are any other precariously-placed retailers that have decided to heavily leverage themselves into the Funko business, right?
Right?
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I got that fancy Mondo Nightcrawler the other day; I didn't realize Funko owned them.