4Kids Entertainment will evaluate asset sales, alliances with strategic partners, and/or a sale of the company, according to an announcement released Wednesday. The company has retained Montgomery & Co. to assist in the process.
4Kids has had a rough stretch over the last few years. It hasn’t made a profit since 2005, and lost nearly $37 million last year. At the end of 2006, 4Kids had over $110 million in cash and short term investments on its balance sheet; at the end of its most recent quarter, that number was less than $10 million.
4Kids will report results for its most recent quarter on Monday. It has recently reduced losses through expense cuts (see “4Kids Loss Narrows”).