4Licensing Corporation Files for Chapter 11 Bankruptcy ProtectionSeptember 23, 2016 at 7:00 am | Posted in 4Kids, Other Stuff | Leave a comment
Closing the book on a former licensing juggernaut
Former longtime Yu-Gi-Oh! licensee 4Licensing Corporation announced yesterday evening that it has filed for Chapter 11 bankruptcy protection. In a terse press release, the company once known as 4Kids Entertainment Inc. stated that its “management does not currently anticipate any recovery for shareholders.” Ouch.
After selling its animation production arm and the Yu-Gi-Oh! License to Konami in 2012, 4Kids pivoted, reincorporating as 4Licensing Corporation and entering the sports licensing industry. The company’s flagship product was isoBLOX, an impact protection and absorption technology that it sought to sell to make protective sports equipment. At the time, the company also still owned the rights to various children’s entertainment properties, like Dinosaur King, Robot Monkeys, and Tai Chi Chasers.
4Licensing, a publicly traded company, last submitted a filing to the U.S. Security and Exchange Commission on March 21, 2016. 4Licensing noted then that it was being operated by a lone individual from an Oklahoma-based investment management firm that owns 33 percent of the company. All of 4Licensing’s other board members and employees had resigned and the company has “substantial unpaid liabilities.”