HABA FAMILYGROUP has emerged from its insolvency proceedings after a restructuring that included a workforce reduction of over 600 employees, the company announced. The German company, parent of U.S. game and toy division Haba U.S.A., exited the insolvency proceedings under self-administration on February 29, 2024.
HABA entered the proceedings last September (see "HABA FAMILYGROUP Files Self-Administration Proceedings"), and announced the layoffs a few weeks later (see "HABA FAMILYGROUP Laying Off 600+").
The strategy for HABA in the future is focused on high-quality toys and games aimed at children’s development, the company said in its announcement. A steering committee to advise management and an external restricting expert will supplement management going forward.
"Over the past few months, we have worked intensively on a clear brand positioning, viable cost structures and a sustainable internal and external positioning of the company," restructuring expert Martin Mucha of the law firm Grub Brugger said in a statement accompanying the announcement. "We have succeeded in setting the course for a successful future for HABA FAMILYGROUP so that the company can continue its 85-year tradition."

After Layoffs, Restructuring
Posted by Milton Griepp on March 14, 2024 @ 2:55 am CT

MORE GAMES
New Sourcebook
June 11, 2025
Renegade Game Studios will release Hawk's Personnel Files , a new sourcebook for G.I. Joe RPG , into retail.
Each Cold-craft Porcelin Statue Has a Limited 399 Manufacturing Run
June 11, 2025
Gatherer's Tavern will release two Magic: The Gathering statues into retail.
MORE NEWS
As Sales Director
June 11, 2025
Steve Leaf will be the Sales Director for Hermes Press.
Featuring Iconic Slime Models from the 1986 'Dragon Warrior' Nintendo Game
June 11, 2025
Square Enix will release new Dragon Quest plastic model kits into retail.