Sport-Fun files Chapter 7

LA-based firm files for bankruptcy protection.
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Sport-Fun, a manufacturer and distributor of sports toys, scooters and other toys, filed for Chapter 7 bankruptcy protection last month in federal bankruptcy court in Los Angeles, according to US trade magazine Playthings.

The title reported that the company is seeking to liquidate its assets via case number 07-14729-TD, with the first meeting of the creditors set for July 6th. Under the Federal Bankruptcy Code, a filing of Chapter 7 could result in the immediate liquidation of Sport-Fun to pay its debts.

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