They will destroy Funkos worth over 30 million

a company funko To be in trouble, having announced their intent to destroy their stocks worth millions, and to consume between 30 and 36 million dollarsThis is because they notice that they have more numbers than they can afford in their stores.

The company is going through a phase of approx demand decreased of his vinyl figures stock surplusafter the warehouses were full, forcing them to rent containers to store the rest of the toys, which are now It cost less than it was worth keeping.

at the end of last year, funko He mentioned that he had his stock worth $246 millionan increase of 48% compared to 2021.

This includes the company’s inventory It plans to phase out in the first half of 2023 to relieve compliance costs By managing stock levels to align with the operating capacity of our distribution center. This is expected to lead to a extinguishing In the first half of 2023 approximately 30 to 36 millionFunko said.

In the company’s fourth quarter It reported losses of approximately $47 millioncompared to $17 million in profits in the same period the previous year.

In addition to destroying inventory, you too They’ll cut 10 percent of the workforce as part of cost saving measures.

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Myrtle Frost

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