Similar to U.S. Chapter 11
Eaglemoss Ltd. has filed a Notice of Intention to appoint an administrator in its home country of the United Kingdom, InfolinkGazette Managing Director Greg Connell posted on LinkedIn. Like a Chapter 11 bankruptcy in the U.S., administration is a U.K. legal status freezing collection actions against a company that can’t pay its bills while an administrator (a trustee, in the U.S.) evaluates the company for a restructuring, sale, or liquidation.
Eaglemoss sold graphic novels and collectibles featuring licensed geek culture properties. It was known for partworks, collectibles sold in parts over time and assembled by collectors.
The filing was sudden; numerous Eaglemoss and Hero Collector (another Eaglemoss brand) products are listed as upcoming releases by Diamond Comic Distributors.
The company’s last publicly filed financial statements, for calendar year 2020, showed a sea of red ink, with a £12.8 million loss for the year, and a £27.1 million negative net worth at the end of 2020.
Source: ICV2
