Mega reveals recall cost

Mega Brands discloses preliminary recall costs as it looks to move forward.
Publish date:
Social count:

Mega Brands has requested amendments to its Credit Agreement as it explores options to sell its RoseArt stationery and activities business.

The firm says it has received a positive response from its shareholders about selling RoseArt.

Marc Bertrand, president and CEO, said: "The response from stakeholders to our decision to explore the sale of our Stationery and Activities business has been positive. Our objective in requesting amendments to our Credit Agreement is to ensure an orderly process that will maximize the value of these assets."

The firm will release its fourth quarter and full-year 2007 financial results on Monday, March 31st. However, in disclosing preliminary, un-audited information, it expects charges totalling about $30 million to impacts its earnings, including some $18 million for charges relating to its recent recall of Magtastik and MagnaMan products and the 2007 recall of Magnetix items.



Mega losses improve

Recall repercussions are still being felt, but Mega Brands reported improved losses in its latest first quarter results.

Featured Jobs

Vivid Job Logo 620 x 349

Digital Marketing Executive - Toys & Games

Vivid is Britain’s biggest toy company and the 20 largest in the world. With offices across the globe, they sell an amazing portfolio of toys and games to over 60 countries. Vivid is best known for its association with blockbuster brands and is very excited about future opportunities around the world.


UK Sales Agents

Liberty House Toys have been appointed as the exclusive UK distributor for the BiOBUDDi brand, and we are pleased to introduce this new unique, innovative and exciting range of 100% environmentally-friendly toy building blocks. We are seeking experienced sales agents with existing network in the toy retail market.

Gameplan Job Logo 620 x 349

Head of Product Development & Marketing

Our client is a privately owned French toy and games manufacturer which sells through distributors in forty countries. The company develops and sells innovative electronic interactive toys and games for the educational and gaming markets, and also takes suitable licenses. To progress its successful business development a Head of Product Development & Marketing is to to recruited.

HIT Entertainment Job Logo 620 x 349

Licensing Systems Administrator

The Contract System Coordinator is a newly created role to support the deal term entry process into Mattel’s new Contract Management System for its Licensing business. The role will support the Business Teams at the Deal & Amendment phase of the contracting process and act in conjunction with the System Administration team.