Mon, 19 Jul 2010 | ADMINISTRATION
Martin Yaffe International, the Lancashire toy maker behind popular brands such as Thomas the Tank Engine and Bob the Builder, has entered administration.
John Titley and Andrew Poxon of Leonard Curtis were appointed as the administrators to the business, which manufactures and distributes toys. Most of its toys are made under licence.
Licensed brands include Winnie the Pooh, Power Rangers, Dora the Explorer, Thomas the Tank Engine and Bob the Builder.
Products made include bedroom furniture such as desk and stool sets; wheeled toys such as scooters and roller skates; and pre-school toys including play sets, inflatables and outdoor sports toys.
Established in 1986, the Rochdale-based firm distributes its toys throughout Europe, and to UK retailers Sainsbury's, John Lewis, Tesco and Asda. It has about 160 employees at its head office in Queensway, Rochdale.
The search for a buyer began before Martin Yaffe entered administration and has not yet been successful, reportedly. Trading is thought likely to continue on a restricted basis, with anticipated redundancies.
Its pre-tax profits have dived over three years showing a loss of £3.3m for the year to 31 December 2008, compared to a profit of £1.284m for the same period in 2006.
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