We just heard about another plant closing, this time in Canada. Does anyone have any info concerning this?
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CEO and CFO are going end of April...
They will sell Mattel
Close more plants.
Recent declines in the toy industry broadly make any big ticket acquisitions highly unlikely in the short-term. Mattel has a very unattractive balance sheet with many billions of debt and a recent history of sales declines across much of it's product line. 😣
A buyout? Keep on dreaming! No one wants this $hlt show.
Yes, but someone will buy us. CEO and CFO are going in April.
This is really sad news for those 580 folks. Why does everything Mattel touch go to sh!t?
You sound like an id–t every time you say "Ynon will SALE the company". It's SELL. "Ynon will SELL the company. Ynon will put the company up for SALE".
And Ynon will sale the company.
If you’ve been paying attention you’d know that Mattel is getting out of the manufacturing business. All the plants are being sold or shut down, just not all at once. Fact.
You think? Thanks for noting that, Captain Obvious!
Maybe I'm being alarmist, but I feel like we're seeing the beginning of a trend of American companies closing down factories in the US and Canada and moving production to places like Asia where they have lower labor costs. Sad.
Is that rumour or fact?
Actually we are selling the plant to our Canadian competitor Spinmaster, who is buying the plant to manufacture vehicles for Monster Jam. Recall when we lost that license to them? How ironic.