Teddy Bear News
Merrythought out of business
Author: teddygirl | Tuesday November 28, 2006
Merrythought is no longer in business as of November 27th, 2006. This is a sad day for the teddy bear world. Here is the press release from their website:
The Directors of Merrythought Toys Limited regrettably announce the cessation of manufacture of their products in Ironbridge, Shropshire, due to the ongoing effects of external economics.
A three-generation family business and the sole remaining toy manufacturer in the country, Merrythought has continued to be an integral part of the history of Ironbridge. The company’s quality products, including collectable teddy bears, rocking and wheeled toys together with a comprehensive range of soft toys, have been demanded worldwide, achieving collector status and a global following.
Despite the best endeavours of the management team and the absolute dedication of a loyal and talented workforce, it has proved impossible for Merrythought to remain competitive against foreign produced goods, which take advantage of significantly lower manufacturing and overhead costs.
On the 27 November 2006, production ceased and 48 redundancies were announced.
The company will be placed into Creditors Voluntary Liquidation in December 2006, at the instigation of the directors.
The directors extend their most sincere thanks to all those who have supported the business and enjoyed its unique products throughout the extensive generations of quality toy manufacturing.
All enquires should be directed to Mrs C Smith at Heathcote & Coleman LLP a member firm of DFK International on 0121 454 4141 or firstname.lastname@example.org